Stocks That Make The Biggest Moves At Noon: Apollo, GE, GameStop, and More
This is where stocks make headlines in midday trading.
Apollo Global Management – The private equity firm’s shares returned previous gains and fell more than 4% after the company announced it would merge with Athene Holding in an all-stock deal. The deal values Athene Holdings, a retirement planning company, at around $ 11 billion. The company’s shares rose more than 6%.
General Electric – GE shares rose 5% in midday trading after a report said the industrial company is on the verge of a $ 30 billion deal to combine its aircraft leasing business with Ireland’s AerCap Holdings to simplify its business. The Wall Street Journal reported over the weekend that GE is on the verge of closing the largest remaining unit of GE Capital, which was once a huge lending business. AerCap’s shares rose 15%.
GameStop – The video game retailer’s shares continued volatile trading on Monday, rising nearly 40%. The company announced that former Chewy executive Ryan Cohen will chair a committee to shape the transition from GameStop to e-commerce.
Delta Air Lines, American Airlines, Southwest and United Airlines – The airline’s shares rose Monday amid optimism about the Covid pandemic. The Senate passed a stimulus plan worth $ 1.9 trillion and Covid vaccinations topped 3 million over the weekend. Delta Air Lines shares rose over 3%. American stocks rose 5% while the Southwest rose more than 4%. United Airlines grew by more than 6%.
McAfee – The cybersecurity firm’s shares rose more than 14% in midday trading after it was revealed the company sold its corporate business to privately held Symphony Technology Group for $ 4 billion in cash.
Disney – The inventory of media and theme parks increased about 5% after California eased Covid rules, paving the way for Disneyland for a limited reopening in April. The Centers for Disease Control and Prevention also said people who were fully vaccinated against Covid-19 on Monday can safely meet indoors without masks, further increasing hopes for a reopening.
VF Corp – The apparel and footwear company’s stocks rose nearly 4% after Pivotal Research upgraded the stock to buy from the hold. The Wall Street company said VF currently has a cheap setup after its North Face brand transitioned.
Coca-Cola – Beverage inventory rose 2.7% after RBC Capital Markets upgraded Coca-Cola to outperform the market. The company said in a note that the company should benefit from increased mobility as Covid restrictions are eased around the world.