Disney World celebrates its 50th anniversary in April 2022.
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Check out the companies that make headlines in Monday’s midday trading.
Mark – Second-hand fashion retailer shares rise 15% after Barclays upgrade them to overweight from equal weight. The company said it sees the potential for more than 40% upside in the stock, especially if consumers trade down during a recession.
Disney – Entertainment company shares rose 2.8% after Daniel Loeb’s Third Point gets a new stake in the giant. In a letter to Disney CEO Bob Chapek, the activist investor said there was a strong case that the sports network ESPN should be scrapped. Loeb also called on Disney to accelerate the integration of the Hulu streamer.
Vroom – Shares of car selling platform Vroom fell 6% after JPMorgan said it was time to sell the company, which has fallen more than 80% this year. The company also has a bearish view on the used auto industry, which has seen the industry grappling with a potential recession.
Unite, AppLovin Unity Software fell more than 6.7% after the company announced that it was rejecting an unsolicited takeover offer from AppLovin. As part of the decision, Unity is continuing with the previously announced acquisition of IronSource. Shares of AppLovin fell 6.4%.
Outdoor shower bed – Shares of Bed Bath and Beyond spiked more than 8% as a continued frenzy in meme stock trading sent the retailer’s shares up. So far in August, the stock is up nearly 180%.
Energy stocks – Energy names tumbled along with oil prices falling on Monday after China reported weak economic data. Valero down more than 3%, Marathon Oil slipped nearly 2.7% and Chevron 2% drop.
Embecta – Shares of the diabetes management company rose 17% on better-than-expected quarterly results. Embecta posted profit of $1.07 per share, beating StreetAccount’s estimate of 87 cents per share. The company’s $291 million in revenue also topped forecasts of $276.9 million.
Moderna – Shares of the biopharmaceutical company jumped more than 2% following news on Monday that the UK had approved Moderna’s updated Covid-19 vaccine. The dual vaccine, which targets both the original virus and the newer omicron variant, is expected to be made available to adults as a booster dose in the fall.
Gilead Science Gilead Sciences jumped 4.2% after a trial found its drug Trodelvy significantly improved the overall survival rate of patients with metastatic breast cancer.
Illumina – Illumina is up 9.4%, recovering from last week’s slide when it reported earnings that fell short of Wall Street expectations. The company reported quarterly results that fell short of both profit and revenue and offered a disappointing outlook for analysts.
Seagen – Seagen slipped more than 2% after the company announced an arbitrator had ruled in favor of Daiichi Sankyo, a Japanese pharmaceutical company, in a controversy over drug technology.
– CNBC’s Michelle Fox, Yun Li, Jesse Pound and Tanaya Macheel contributed reporting
