Stock Groups

Tesla, Coinbase, AMC and more


On Tuesday, October 19, 2021, a Tesla Supercharger station was opened in Vallejo (California), USA.

Getty Images| Bloomberg | Getty Images

These are the headline-grabbing companies in midday trading.

Tesla — Tesla shares gained more than 7% on Monday following news that the electric vehicle maker will ask shareholders at its annual meeting to authorize a stock splitTo pay out stock dividends to investors.

Coinbase — Shares of the cryptocurrency services firm rose more than 6% following a report by a local newspaper that the company is in a talks to buy 2TM, the parent of the Brazilian cryptocurrency brokerage Mercado Bitcoin, and that the potential deal could be closed by the end of April. This move coincides also with an increase in bitcoin prices over the weekend. erased its 2022 losses.

AMC Entertainment — The movie theater company saw shares surge by about 25% after its CEO Adam Aron said more “transformational” M&A deals are coming. Following news of the company’s investment into Hycroft Mining (a gold- and silver-mining operator), the comments came earlier in the month.

Poly, HP Inc — The communications technology company saw a 50% spike in its share price Monday following news that it will be acquired by HP Inc.The deal was for $40 per share and is expected to close by the end this year. HP shares fell 2%

Foot Locker — The athletic apparel retailer’s shares dropped about 3% after Cowen urged investors not to get too enticed by the pullback in their price. The company downgraded Foot LockerMarket Perform from Outperform, and the company has reduced its price target for the stock from $42 to $34

Beyond Meat — Shares of the alternative meat producer slid more than 2% after Piper Sandler downgraded the stockTo underweight, from neutral. Beyond also saw a 40% decrease in price, so the company lowered its price target.

Campbell Soup — The soup company’s shares fell about 1.3% after RBC downgraded the company to sector performOutperform Campbell’s vulnerability to inflation was raised by the company.

Altria Group — RBC also downgraded Altria, the tobacco and cigarette giant that owns Philip Morris, to sector perform from outperform, noting that it sees limited room for upside for the company. Altria shares fell by 3%.

Duckhorn Portfolio — The winemaker’s shares jumped more than 7% after RBC upgraded them to outperformSector perform and note that they are not subject to inflation. They also have about 32% upside compared to Friday’s trading session.

Chipmakers — Chipmakers’ shares were lower Monday after Goldman Sachs downgraded three stocks – Qorvo, Microchip and Teradyne – to neutral from buy noting that it sees a “challenging macro backdrop”In the coming year. QorvoThe decline was greater than 4% Microchip Technology1.8% decline, TeradyneThe sector lost 2.8%. Other stocks in the sector also declined.

 — CNBC’s Samantha Subin and Hannah Miao contributed reporting