Stock Groups

Raytheon, Block, Tesla, Foot Locker and more

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Raytheon stands at the 53rd International Paris Air Show (Le Bourget Airport, Paris) June 21, 2019

Pascal Rossignol | Reuters

Take a look at the top mid-day traders.

Defense stocks — Defense stocks rose as the conflict between Russia and Ukraine continued on Monday and European countriesPromised spend more on defense. Northrop GrummanWhile the average rise was about 6% Raytheon TechnologiesAn increase of 2.7% was achieved General DynamicsThe increase was approximately 2% Lockheed MartinIt was also known as upgraded to to outperformWolfe Research’s peer performance rose by more than 4 percent.

BP — Shares of the oil and gas giant fell more than 5% after the company said it would offload its nearly 20% stakeRosneft, Russia’s state-controlled oil producer, is resigning. Former BP CEO Bernard Looney, and Bob Dudley have resigned from Rosneft’s board. They are effective immediately.

Block — Shares of fintech company Block rose more than 3% after an upgrade to outperform from BMOCapital Markets. The company said investors have an opportunity to pick up shares of Block at a growth-at-a-reasonable-price level after the stock’s pullback.

Tesla — Shares of Tesla rallied 5.5% after Bernstein hiked its price target on the EV stock. Toni Sacconaghi analyst stated, “One clear justification for TSLA’s valuation is its unbeatable growth profile which stands out even among tech companies.” Sacconaghi, however, maintained an underperform rating and forecasts significant downside.

Renewable Energy Group — Shares of Renewable Energy Group surged about 40% after Chevron said it would buy the biodiesel makerA cash-only deal of $3.15 billion.

First Horizon — Shares of the Memphis-based bank surged nearly 30% following news that the company will be acquired by TD in an all-cash dealIt is valued at $13.4 billion or $25 each share. The move will allow Canada’s banking giant to grow its footprint in the Southeast U.S.

Healthcare Trust of America — Shares of the health-care-centered real estate investment trust fell more than 4% following news that it will mergeHealthcare Realty, a competitor, in a deal having an implied value $35.08 per Share. Healthcare RealtyStocks dropped by more than 10 percent

Foot Locker — Shares of the shoe retailer rose more than 5% despite being downgraded to underweightAt Morgan Stanley, the weight is equal. The Wall Street firm said it’s concerned about revenue potential after the company said it would sell fewer Nike products.

Gilead Sciences — Shares of Gilead Sciences dipped about 1.7% after BMO downgraded the stock to market performFrom outperform. The firm stated that they aren’t negative about Gilead’s name but see it as a “show me” story. They also referred to management for additional de-risking assets in order to be more constructive.

Lear Corp — The automotive-seating company saw its shares fall more than 5% following a downgradeMorgan Stanley: From overweight to equal eight. Morgan Stanley expressed concern about Lear’s slowing growth.

 — CNBC’s Hannah Miao and Maggie Fitzgerald contributed reporting.

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