Check out the companies making headlines in midday trading. Macy’s — Shares jumped 21% after Macy’s, according to sources , received a buyout offer for $5.8 billion from two investment firms. Other department store chains also rose on the report, with shares of Nordstrom and Kohl’s each gaining more than 5%. Cigna Group , Humana — Cigna Group reportedly ditched its attempt to acquire competitor Humana after the two failed to agree on price. Cigna shares advanced 16%, while Humana shares slid 1.6%. Shake Shack — Shares of Shake Shack jumped 7.4% after the company announced CEO Randy Garutti will retire from his position in 2024. Broadcom — The stock advanced 8.8% after Citi resumed coverage of Broadcom with a buy rating, citing strength from the VMware acquisition. The Wall Street firm said its “AI business will offset the correction in the semi business.” Its $1,100 price target implies 16% upside. Eli Lilly — The pharma stock dropped more than 3% after a study published in the Journal of the American Medical Association showed patients who withdrew from weight loss drug tirzepatide regained weight over time. In response, Eli Lilly on Monday said participants who took the placebo regained weight at 14.8% at 88 weeks, meaning tirzepatide led to “sustained weight loss” compared to the placebo. Snap — Shares rose mor …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading. Macy’s — Shares jumped 21% after Macy’s, according to sources , received a buyout offer for $5.8 billion from two investment firms. Other department store chains also rose on the report, with shares of Nordstrom and Kohl’s each gaining more than 5%. Cigna Group , Humana — Cigna Group reportedly ditched its attempt to acquire competitor Humana after the two failed to agree on price. Cigna shares advanced 16%, while Humana shares slid 1.6%. Shake Shack — Shares of Shake Shack jumped 7.4% after the company announced CEO Randy Garutti will retire from his position in 2024. Broadcom — The stock advanced 8.8% after Citi resumed coverage of Broadcom with a buy rating, citing strength from the VMware acquisition. The Wall Street firm said its “AI business will offset the correction in the semi business.” Its $1,100 price target implies 16% upside. Eli Lilly — The pharma stock dropped more than 3% after a study published in the Journal of the American Medical Association showed patients who withdrew from weight loss drug tirzepatide regained weight over time. In response, Eli Lilly on Monday said participants who took the placebo regained weight at 14.8% at 88 weeks, meaning tirzepatide led to “sustained weight loss” compared to the placebo. Snap — Shares rose mor …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
