Apple, Manchester United, Activision Blizzard and more

The Microsoft logo is seen on a smartphone placed on top of the Activision Blizzard logo shown in this illustration taken Jan. 18, 2022.

Dice Ruvic | Reuters

Check out the companies making headlines on midday trading Friday.

Apple — Apple’s stock fell 2% on Friday after protests took place at the iPhone maker’s major Foxconn supplier in China earlier this week. Analysts and investors have also feared that recent production shutdowns in the country following a resurgence of Covid-19 could lower supply this holiday season.

Activision Blizzard – Shares of the video game company fell more than 4% after Politico reported that the Federal Trade Commission is likely to sue to block Microsoft’s $69 billion acquisition of Activision Blizzard.

Manchester United – Manchester United shares rose more than 16%, building on earlier gains this week following news that the soccer team’s owners are considering a potential sale.

Coupa software – Shares of the software company rose 7, building on a 28.9% gain on Wednesday after Bloomberg reported that Vista Equity Partners is exploring an acquisition of Coupa.

Canoo – The electric car company’s stock traded 6.5% higher after a Securities and Exchange Commission filing revealed that CEO Tony Aquila bought shares. He bought more than 9 million shares at $1.11 each on Nov. 21, worth about $10 million. Half of these shares were bought outright, while AFV Partners, Aquila’s company, bought the other half.

Grindr – The LGBTQ dating app fell 6%, continuing a week of losses after the Nov. 18 rally, its first day under the new ticker post-SPAC. It is now up more than 40% from where it debuted and over 85% from the high seen in the initial rally.

Lufax Holding — US-listed shares of the Chinese fintech company fell 20% on Friday. Lufax reported disappointing earnings results earlier this week, which were accompanied by downgrades and price target cuts at some Wall Street firms. JPMorgan downgraded shares to underweight from overweight on Friday and lowered its price target on the stock.

Generac — Shares of the generator maker fell 1% Friday after Argus Research downgraded the stock to hold from buy. Argus said in a note that supply chain issues will weigh on Generac’s performance “for the next few quarters” and that the stock deserves to trade at a worse multiple compared to its peers.

— CNBC’s Alex Harring, Jesse Pound, Yun Li and Darla Mercado contributed reporting

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