Twitter, AMD, Deere, Verizon and more
On April 14, 2021, the Twitter logo will be displayed on a smartphone screen.
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Take a look at the top midday traders.
Twitter — Shares of the social media company rose 4% on news that it may want to finalize a takeover deal with Tesla founder Elon Musk ahead of its quarterly earningsAccording to reports, it will be arriving on Thursday.
Penn National Gaming — Shares of the casino and online betting company rose 3% after an upgrade from Morgan Stanley. These are the investment firm hiked its rating to overweightThe company stated that Penn National’s stock price slump has made it a more attractive investment and that its strategy to gain sports betting customers is better than those of its rivals.
Advanced Micro Devices, Marvell — AMD’s stock rallied 1.7% after Raymond James upgraded it to outperformAnd that the stock of Marvell could soar to 80%. Raymond James elevated Marvell’s market performance, which resulted in shares rising 2.3%
Verizon — The stock fell nearly 4% after Goldman Sachs downgraded Verizon to neutral from buy on valuation, following a big subscriber loss for the telecom’s giant. Goldman stated that Verizon will remain the leader in 5G, but anticipates slowing revenue growth.
Snowflake — Shares surged more than 7% after Wolfe Research initiated coverage of the cloud data company with an outperform rating. Analysts believe that the stock could see a rise in trading, as it is currently at Black Friday prices. Wolfe anticipates product revelations and updated guidance about how Snow will achieve $10 billion annually in product revenue by 2029.
ThredUp — Shares of the resale stock dipped 1.8% following a downgrade from a buy to neutral rating by Goldman Sachs, which cited near-term headwinds.
Activision Blizzard — The videogame publisher’s stock moved 1% lower after missing analyst estimates in the first quarter. Activision Blizzard noted that the poor earnings were due to disappointing demand for their “Call of Duty: Warzone”.
Deere — Shares tumbled more than 7% after Bank of America downgraded the stock to neutral from buy. According to analysts, there is limited upside in the stock of agricultural machinery. However, rising fertilizer prices could cause damage due to the conflict in Ukraine.
GoDaddy — The stock ticked 3.5% higher after Piper Sandler upgraded the company to overweight from neutral, calling it a top defensive idea. According to the firm, the website domain company offers strong free cashflow potential. It also likes GoDaddy’s three-year capital return strategy of $3B.
Formula One — Shares dipped 1% after Citi downgraded the stock to neutral and said there is little upside left to gain.
— CNBC’s Sarah Min, Tanaya Macheel and Jesse Pound contributed reporting