Stock Groups

Bed Bath & Beyond, United, PVH and more

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A person enters a Bed Bath & Beyond store on October 01, 2021 in the Tribeca neighborhood in New York City.

Michael M. Santiago | Getty Images

These are the headline-grabbing companies in midday trading.

Bed Bath & Beyond — Shares rose 34% midday on news that GameStop’s Chairman Ryan Cohen had a nearly 10% stake in the retailer through his investment company RC Ventures. The home goods retailer could consider selling to private equity firms and spin-off its BuyBuy Baby business.

United Airlines, American Airlines – Air carriers were lower after fuel costs rose 32% to their highest level in more than 13 years last week, amid concerns about global oil supplies during the war between Russia and Ukraine. United Airlines lost 10.7% and Delta and America dropped 8.4% and 6.7% respectively.

Ralph Lauren, PVH — The retail stocks fell 9.5% and 13.8%, respectively. Wedbush downgradedRalph Lauren and PVH were relegated to the basement because of concerns over their exposure to Europe during the Russia-Ukraine conflict.

Schlumberger, Halliburton Baker Hughes — Energy stocks were elevated, buoyed by surging oil prices from the Russia-Ukraine conflict. Overnight the benchmark West Texas Intermediate crude U.S. oil briefly rose to the top $130 per barrel. Schlumberger stock shot up 7.7% on Monday. Halliburton jumped 5.5% and Baker Hughes rose 4.9%.

Archer-Daniels-Midland — Shares in the agricultural company surged 2.9%. Fears of shortages of wheat supply after Russia’s invasion in Ukraine have investors speculating on increases in wheat prices.

Visa Mastercard — Shares in both financials tumbled after the U.S. payments companies said they were suspending operationsRussia’s weekend. The stock of Visa declined by 4.9%. Mastercard fell 3.4%.

Occidental Petroleum – Shares fell more than 5.7% after an SEC filing Friday revealed Berkshire Hathaway has taken a $5 billion stake in the oil giant. Over 61,000,000 of its 91.2 Million Common Shares were bought last week for prices between $47.07 and $56.45.

Citigroup — The bank’s stock dipped 1.7% after a downgrade to hold from Jefferies. Citi said that it was unlikely Citi would meet the financial goals set out last week by management during its investor day. Also, bank stocks fell broadly on Monday.

Philip Morris — Shares of the tobacco company fell 6.2% after JPMorgan downgraded the stockTo neutral or overweight Philip Morris may be affected by Russia’s invasion Ukraine, according to the firm. These two countries represent key markets for Philip Morris.

U.S. Steel — The stock added about 1% after Morgan Stanley upgraded U.S. SteelTo equalize weight with underweight. In its update, the firm stated that it should be more well-positioned than competitors to cope with increased raw material costs as a result of wars between Russia and Ukraine.

Palantir — Shares rose 4.8% after Morgan Stanley upgraded the stockEqual weight to underweight. According to the firm, Palantir’s potential risks have been largely priced out at this time.

NextEra Energy — The stock rallied 3.8% after KeyBanc upgraded NextEra Energy to overweight from sector weight. According to the firm, it could see a rebound in light of rising oil prices.

DraftKings — The sports betting stock sank 11.8% after Argus downgradedDraftKings is recommending to buy but not hold. DraftKings will see slower revenue growth in the coming year due to fewer sports gambling states.

— CNBC’s Sarah Min, Tanaya Macheel, Samatha Subin and Jesse Pound contributed reporting

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