Several major stocks made significant moves midday trading on Monday, driven by news and announcements from various companies. Here’s a rundown of some key movers:
* Hershey (HRS) jumped 10.9% after Bloomberg reported that Mondelez International is trying to buy the chocolate company again.
* Mondelez (MDLZ) fell 2.3% as a result.
* Chinese stocks PDD Holdings and JD.com skyrocketed over 10% after China’s Politburo pledged to ease its monetary policy stance in 2025, boosting domestic growth.
* Alibaba Group (BABA) and Tencent shares gained 7.5% and 6%, respectively, following the news.
* Nio Automaker rallied more than 12.3%.
* Macy’s (M) gained 1.8% after activist investor Barington Capital called for spending cuts and reevaluation of Bloomingdale’s and Bluemercury operations.
* Workday (WDAY) jumped 5% after S&P Dow Jones Indices announced its addition to the S&P 500 later this month.
* Apollo Global Management (APO) also hit a new high despite being down about 3%.
* Warner Bros. Discovery (WBD) shed 0.9% after signing a multiyear cable distribution deal with Comcast, resolving a legal dispute over “Harry Potter” rights.
* Stellantis (STL) edged up 0.6% after Tim Kuniskis returned to lead the Ram Trucks brand.
* Nvidia (NVDA) slid nearly 2.6% due to an investigation into potential antimonopoly law violations in China.
* Advanced Micro Devices (AMD) declined about 5.6% following a Bank of America downgrade, citing competitive risks and market dominance concerns.
* Interpublic Group of Companies (IPG) gained 3.5%, while Omnicom Group (OMC) lost 10.3%.
* Super Micro Computer added 0.5% after receiving an extension to publish its delayed annual report.
* SoFi Technologies dipped 2.8% after a downgrade and warning from Bank of America Global Research.
* SolarEdge Technologies jumped 11.7% after announcing the start of shipping its “USA Edition” home battery, which qualifies for a domestic content bonus tax credit.
Source: https://www.cnbc.com/2024/12/09/stocks-making-the-biggest-moves-midday-hsy-nvda-baba-omc.html