The Twitter logo will appear on a smartphone screen on April 14, 2021.
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Check out the companies that are making headlines in the dinner trade.
Twitter – Shares on social media rose 5.7% on the news that Twitter would accept a buyout from Elon Musk to take the company private for $ 54.20 per share.
Penn National Gaming – Shares in the casino and online betting company rose 4.9% following an upgrade from Morgan Stanley. The investment firm raised its rating to overweight, saying the recent decline in Penn National’s stock made it an attractive valuation and that the company has a better strategy for gaining sports betting customers than its competitors.
Oil stocks – Energy stocks fell due to renewed fears of a global downturn as the country struggles with a Covid eruption. Shares in Chevron and Exxon Mobil fell 2.2% and 3.4% respectively.
Advanced Micro Devices, Marvell – AMD’s stock rose 2.9% after Raymond James upgraded it to surpass and said the stock could rise by 80%. Raymond James also upgraded Marvell to market performance, sending shares up 3.9%
Verizon – The stock fell nearly 3.1% after Goldman Sachs downgraded Verizon to neutral from buying on valuation after a large subscriber loss for the telecom giant. Goldman said Verizon is positioned to remain a wireless leader in the 5G cycle, but also expects a slowdown in revenue growth.
Snowflake – Shares rose 7.6% after Wolfe Research began covering the cloud computing business with a better than rating. The stock, which is trading at “Black Friday prices”, could get a boost on its upcoming analyst day, the analyst said. Wolfe expects new product revelations as well as updated guidance on how Snow will reach $ 10 billion in annual product revenue by fiscal year 2029.
ThredUp – The shares in the resale share fell by 2.3% after a downgrade from a buy to neutral rating by Goldman Sachs, which quoted headwinds in the short term.
Activision Blizzard – The video game publisher’s stock moved 0.7% lower after lacking analyst estimates in the first quarter. Activision Blizzard cited disappointing demand for its “Call of Duty: Warzone” among contributors to weak earnings.
Deere – Shares toppled 4.5% after Bank of America downgraded the stock to neutral from buying. Analysts said they see limited upside for the agricultural stock, which could be hit by rising fertilizer prices in the midst of the ongoing conflict in Ukraine.
GoDaddy – The stock ticked 4.5% higher after Piper Sandler upgraded the company to overweight from neutral and called it a top defensive idea. The company also said that the website domain firm has a strong free cash flow potential and it likes GoDaddy’s $ 3B return on investment strategy for the next three years.
Formula 1 – Shares rose marginally higher after Citi downgraded the stock to neutral, saying there is little upside left to win.
– CNBC’s Sarah Min, Tanaya Macheel and Jesse Pound contributed reporting.