A visitor views a titanium hybrid 2020 Ford Escape FWD small SUV at the Canadian International Auto Show in Toronto, Ontario, in Canada, Feb. 18, 2020.
Chris Helgren | Reuters
Discover the latest news in midday trading.
Ford — Shares surged approximately 2% during midday trading after a CNBC report highlighted advancements in negotiations between Ford and the United Auto Workers union amidst the ongoing strike.
Squarespace — The stock of the website builder gained 4.2% after UBS initiated coverage with a buy rating, citing a robust product suite and increasing brand awareness.
Scholastic — The publishing and media company experienced a significant decline of 13.2% following their earnings report, which fell below expectations. Scholastic reported an adjusted loss of $2.20 per share on $228.5 million in revenue, while analysts predicted a loss of $1.35 per share and $268.79 million in revenue, according to FactSet.
Arm Holdings — The newly listed chip design company saw a 1.6% decrease in its stock during Friday’s trading session, as Susquehanna initiated a neutral rating in a note. After a remarkable 25% surge during its Nasdaq debut on September 14, the stock is currently just above its $51 initial public offering price.
Seagen — Following the release of positive results from a clinical trial for previously untreated bladder cancer patients, the biotech firm’s shares increased by 3.5%. The trial demonstrated improved overall survival and progression-free survival compared to chemotherapy.
Deere — Shares of the farming equipment manufacturer dropped 1.7% as Canaccord Genuity downgraded them from a buy to a hold rating. The firm mentioned headwinds such as slowing growth for large agricultural equipment and normalizing dealer inventories.
Chinese e-commerce stocks — U.S. shares of both PDD and Alibaba experienced gains of approximately 4% and 5% respectively, while JD.com stock climbed 2%. According to a report from Bloomberg, the Chinese government is considering easing foreign investment cap rules in publicly traded domestic companies.
Activision Blizzard — Following the announcement that the new deal proposal from Microsoft has successfully cleared major antitrust concerns raised by U.K. regulators, the video gaming company saw a 2% increase in its stock.
— Reporting by Pia Singh, Alex Harring, Hakyung Kim, and Samantha Subin contributed to this article.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
