Stocks making the biggest moves midday: Block, Deutsche Bank, GameStop, Activision and more

Stocks making the biggest moves midday: Block, Deutsche Bank, GameStop, Activision and more


In this article

  • JPM
  • WFC
  • GME
  • SQ
Jack Dorsey, chief executive officer of Square Inc., second right, tours the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015.
Yana Paskova | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Block Shares shed nearly 3%, after losing nearly 15% in the prior trading session when short seller Hindenburg Research alleged that Block facilitates fraud. Atlantic Equities downgraded the stock to hold on Friday, citing the lack of clarity on the payment company’s Cash App after Hindenburg’s short position.

related investing news

This week's best performers include Regeneron and these two solar stocks

CNBC Pro
This week’s best performers include Regeneron and these two solar stocks
Club meeting recap: Cramer says investors should find safety in defensive stocks like Costco

CNBC Investing Club
Club meeting recap: Cramer says investors should find safety in defensive stocks like Costco
Pro Picks: Watch all of Thursday's big stock calls on CNBC

CNBC Pro
Pro Picks: Watch all of Thursday’s big stock calls on CNBC

GameStop — The famed meme stock gained 2.5% in midday trading. The stock has been active since it reported its first profitable quarter in two years earlier this week.

Deutsche Bank The German lender’s U.S.-listed shares slid 5%, bouncing off its lows. The bank stock had been down about 14% after the bank’s credit default swaps jumped without an apparent catalyst. JPMorgan defended Deutsche Bank Friday, saying investors should focus on the European bank’s “solid” fundamentals.

Regeneron Regeneron gained 2.2% after Jefferies upgraded the pharmaceutical stock to a buy from hold rating and said its Dupixent drug, in development with Sanofi, could serve as the next big catalyst for the company.

Wells Fargo and JPMorgan Shares of commercial bank giants were lower in midday trading, with Wells Fargo pulling back 2.3% while JPMorgan fell 2.2%. Both stocks have been under pressure in line with broader financial sector turmoil this month.

Incyte The pharmaceutical stock fell about 4% after Incyte announced that the Food and Drug Administration had informed the company that the regulator would not approve an application for a new blood cancer drug tablet in its current form.

Activision Blizzard and Microsoft Shares jumped 5% after the U.K. Competiton and Markets Authority dropped some of its concerns with the potential purchase of the company by Microsoft. Microsoft shares were up 0.2%.

— CNBC’s Alexander Harring, Yun Li, Jesse Pound, Michelle Fox and Samantha Subin contributed to this report.



Source

Stocks making the biggest moves midday: MP Materials, Delta Air Lines, WK Kellogg, Hertz & more
Finance

Stocks making the biggest moves midday: MP Materials, Delta Air Lines, WK Kellogg, Hertz & more

Check out the companies making the biggest moves midday: MP Materials — The rare earth miner soared more than 47% after the company announced the Defense Department would buy $400 million in preferred stock . “We remain a thriving public company. We now have a great new partner in our economically largest shareholder, DoD, but […]

Read More
‘YOLO’-buying EVs: As ,500 tax credit ends, consumers may rush to cash in. Here’s how to get a good deal
Finance

‘YOLO’-buying EVs: As $7,500 tax credit ends, consumers may rush to cash in. Here’s how to get a good deal

Key Points President Donald Trump’s so-called “big beautiful bill” ends federal EV tax credits after Sept. 30. Consumers may rush to buy or lease an electric vehicle before that deadline to get a tax break. Tesla said now is the time to “YOLO” purchase an EV, referencing the fast-approaching deadline. Source

Read More
Stocks making the biggest moves premarket: Delta Air Lines, WK Kellogg, PTC, AMD and more
Finance

Stocks making the biggest moves premarket: Delta Air Lines, WK Kellogg, PTC, AMD and more

Check out the companies making headlines in premarket trading. Delta Air Lines — Shares advanced nearly 12% before the opening bell after the airline reinstated its 2025 profit outlook , and second-quarter revenue and net income exceeded analyst estimates. Brazilian stocks — The iShares MSCI Brazil ETF (EWZ) dropped nearly 2% premarket after President Donald […]

Read More