American Airlines, Kohl’s, Lucid Group and more
A jet from American Eagle, a regional branch of American Airlines (AA), takes off past other AA aircraft at Ronald Reagan Washington National Airport in Arlington, Virginia, December 3, 2021.
Chris Helgren | Reuters
Check out the companies that are making headlines in dinner trading.
Airlines – Airline shares rose on Monday as shares related to the recovering economy increased by large averages. American Airlines rose 1[ads1]0%, United Airlines increased by almost 11%, and Delta Air Lines rose 8.6%. Alaska Air Group rose 7 percent.
Shares in cruise lines and casinos – Norwegian Cruise Line rose 11% and Carnival rose 10.4% as reopening games became higher. Las Vegas Sands got more than 9%. MGM Resorts and Wynn Resorts rose 6.8% and 7.6%, respectively.
Kohl’s – The shares of the retailer rose 7.6% after the news that activist investor Engine Capital recommends that Kohl’s consider either a sale of the company or a separation of the e-commerce business.
GCP Applied Technologies – The shares of GCP Applied Technologies rose more than 16% after the manufacturer of specialty chemicals for construction agreed to be acquired by the French construction company Saint-Gobain for $ 32 per share in cash, or around $ 32 billion.
Lucid Group – The shares in the start-up of electric vehicles fell around 7.3% after the news that the company received a summons on Friday from the Securities and Exchange Commission “which requests the production of certain documents related to an investigation”. Lucid is the latest EV startup to be made public via a SPAC agreement to be investigated by the SEC.
Wells Fargo – Shares of Wells Fargo rose more than 3% after Morgan Stanley upgraded the stock to overweight from equilibrium. Morgan Stanley said Wells is the most asset-sensitive stock in its coverage, and futures with higher fed funds guarantee an upgrade. The company named Wells a top choice in 2022.
Spirit Airlines – Shares of the low-cost carrier rose 9% after Evercore ISI upgraded Spirit to move from on-line. Evercore said in its upgrade that they see “seeing strategic choices as the company’s performance and demand improve.”
MicroStrategy – The shares of the software company for business analysis fell more than 5% in the heels of bitcoin sales this weekend. MicroStrategy has billions of dollars in bitcoin on its balance sheet, so the company’s shares are sensitive to fluctuations in the world’s largest cryptocurrency.
Alibaba – The Chinese internet giant’s shares rose 7.3% after the company announced a reorganization of its international and national e-commerce businesses. Alibaba also said it would replace the CFO.
Boston Beer – Shares of the beverage manufacturer rose 7.6% after Cowen upgraded Boston Beer to market performance from underperformance. Cowen said in his upgrade of the beer company that the valuation has probably been completed.
– with coverage from CNBC’s Yun Li, Pippa Stevens and Hannah Miao.
