Check out which companies are generating headlines in noon trade.
Humana, UnitedHealth Group — Health-care insurers surged as a group Monday, with the increased possibility of a Trump victory raising prospects of lower costs. Humana and UnitedHealth Group both saw their shares rise by about 1%.
Coinbase and Marathon Digital — Crypto stocks rose as investors raised their wagers on Trump’s election victory, which they believe will benefit cryptocurrency. The Republican contender has recently signalled a favourable opinion of the asset class. Coinbase Global increased by roughly 13%, while Marathon Digital and MicroStrategy gained 16% and 15%, respectively.
Apple — Shares of the iPhone maker rose 2% after Loop Capital upgraded Apple to a buy rating, citing the company’s upcoming and future artificial intelligence integrations as a potential Gen AI “base camp” for consumers. Bloomberg News also stated that Apple’s annual India sales increased to a record of $8 billion in the year ended March from the previous year.
Baxter International — Shares of the medical supplies business fell 3% following a Morgan Stanley downgrade to underweight from equal weight. Despite trading at its lowest level in over a decade, the business believes Baxter has limited potential.
Tesla – The electric vehicle stock rose nearly 5%, continuing its more than 31% surge this month.
Trump Media & Technology— Shares rose over 29% as investors reacted to Saturday’s attempted assassination of former President Donald Trump, which has boosted the likelihood of Trump winning this year’s presidential election. Trump Media owns Truth Social, a social media site.
Macy’s stock fell 12% after the department store stopped talks with Arkhouse and Brigade, who sought to buy Macy’s for $6.9 billion and take it private.
Sturm, Ruger, and Company, Smith & Wesson— Following Saturday’s shooting at Trump’s rally, shares in firearm manufacturing companies soared. Sturm, Ruger & Company soared 7%, while Smith & Wesson vaulted 10%. Following a mass massacre, gun stocks typically climb as speculators gamble that people would buy more firearms out of fear that availability will be curtailed.
SolarEdge Technologies — Shares fell 13% as the solar business revealed intentions to lay off 400 staff in an effort to regain profitability as revenue fell. Other solar stocks also fell in tandem. Sunrun, Sunnova Energy, and NextEra Energy all had 11%, 9%, and 5% declines in share price.
Goldman Sachs – Shares rose 1% as the bank reported an earnings beat in the second quarter. Goldman reported earnings per share of $8.62 on sales of $12.73 billion, compared to LSEG analysts’ expectations of $8.34 per share on $12.46 billion.
Source (CNBC)
