Before the bell, see which firms are in the news.
AMC Entertainment, GameStop On rumours that Keith Gill, better known online as Roaring Kitty, owns a $116 million interest in GameStop as of Friday’s closing, the company’s value surged by more than 77%. AMC’s stock surged by around 25% because to the resurgence of meme stocks.
Stericycle and Waste Management — After Waste Management decided to acquire Stericycle for $7.2 billion, the business’s shares surged 16%. Stericycle is a company that disposes of medical waste. Waste Management experienced a 1.5% decline.
MarineMax: Following news that OneWater Marine is in talks to acquire the recreational boat and yacht services company for $40 per share in cash, shares of MarineMax surged 19%. The arrangement was initially reported by Bloomberg, which cited sources with knowledge of the negotiations.
Cava: The fast-casual Mediterranean restaurant brand had a roughly 2% decline after JPMorgan downgraded it from overweight to neutral. For the call, the bank referenced the stock’s valuation. Cava’s rise this year has totaled 115%.
Nvidia, AMD — Following the announcement of their respective AI chips, chipmakers Nvidia and AMD saw increases of 3% and 1.4%, respectively.
Boston Beer Company — Shares fell 11% following reports from Bloomberg and the Wall Street Journal on Friday indicating that Suntory, a Japanese brewer and distiller, denied engaging in talks to purchase the Samuel Adams owner.
Best Buy: The electronics store increased by 2.7% after upgrading from sell to buy from Citi. the electronics shop should experience growth in profitability and values as demand is driven by artificial intelligence and consumers replace equipment.
Spotify: The music streaming service’s shares increased 4.8% after it revealed on Monday that it will be raising the cost of Spotify Premium subscriptions in the United States beginning in July.
GSK — The biopharmaceutical company saw an 8.5% decline after a Delaware court on Friday permitted jury trials in claims filed by cancer patients alleging GSK’s Zantac medication caused their illness.
Source (CNBC)
