Check out the companies making headlines in midday trading. Macy’s — Shares of the department store giant added 2% after the company rejected a $5.8 billion proposal by Arkhouse Management and partner Brigade Capital Management to take the retailer private, citing concerns over deal financing and valuation. Archer-Daniels-Midland — The food processor’s shares dropped more than 22%, making the stock poised for its second worst day in its history back to 1972. Archer-Daniels-Midland announced weak fourth-quarter earnings guidance and placed CFO Vikram Luthar on administrative leave amid an investigation into the company’s accounting practices. Elsewhere, Goldman Sachs downgraded shares to neutral from buy. SolarEdge Technologies — Shares of SolarEdge Technologies rose more than 3% after the solar company announced plans to cut 16% of its workforce worldwide in an attempt to trim operating expenses. The reductions will impact about 900 employees. B Riley Financial — Shares tumbled as much as 8% after Bloomberg reported the Securities and Exchange Commission is investigating the financial services company’s deals with a client who was connected to a securities fraud. Spirit Airlines , JetBlue Airways — The airline stocks moved during Monday’s trading session, following their Friday announcement that they will appeal a federal judge’s ruling last week that blocked their planned merger. Spirit Airlines rallied nearly 12%, while JetBlue added 1.4%. StoneCo — Shares of the Brazilian …
Article Attribution | Read More at Article Source
[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading. Macy’s — Shares of the department store giant added 2% after the company rejected a $5.8 billion proposal by Arkhouse Management and partner Brigade Capital Management to take the retailer private, citing concerns over deal financing and valuation. Archer-Daniels-Midland — The food processor’s shares dropped more than 22%, making the stock poised for its second worst day in its history back to 1972. Archer-Daniels-Midland announced weak fourth-quarter earnings guidance and placed CFO Vikram Luthar on administrative leave amid an investigation into the company’s accounting practices. Elsewhere, Goldman Sachs downgraded shares to neutral from buy. SolarEdge Technologies — Shares of SolarEdge Technologies rose more than 3% after the solar company announced plans to cut 16% of its workforce worldwide in an attempt to trim operating expenses. The reductions will impact about 900 employees. B Riley Financial — Shares tumbled as much as 8% after Bloomberg reported the Securities and Exchange Commission is investigating the financial services company’s deals with a client who was connected to a securities fraud. Spirit Airlines , JetBlue Airways — The airline stocks moved during Monday’s trading session, following their Friday announcement that they will appeal a federal judge’s ruling last week that blocked their planned merger. Spirit Airlines rallied nearly 12%, while JetBlue added 1.4%. StoneCo — Shares of the Brazilian …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
