Midday movers: Diamondback Energy rises, Arm goes parabolic
(Updated — February 12, 2024 11:21 AM EST)
Investing.com — Main U.S. indexes edged higher Monday in subdued trading ahead of key inflation data scheduled to be released later this week that could impact the timing of Fed rate cuts.
Here are some of the biggest U.S. stock movers today:
Diamondback Energy (NASDAQ:FANG) rose 10% after announcing an agreement to merge with Endeavor Energy Resources in a transaction valued at approximately $26 billion.
Joby Aviation (NYSE:JOBY) shares rose 7% after the company inked a deal with Dubai's transportation authority to launch its air taxi services in the Emirate by early 2026.
Shares in Rivian (NASDAQ:RIVN) declined 1% after Barclays slashed its rating of the electric vehicle group to «equal-weight» from «overweight», citing signs of increased pressure on EV demand.
Monday.com (MNDY (NASDAQ:MNDY)) shares fell 9% after the project management software firm guided for 2024 adjusted operating income that was below analysts’ expectations.
Trimble (TRMB) shares rose 4.7% after fourth quarter EPS and revenue topped consensus, although its forecast trailed estimates.
BioXcel Therapeutics (BTAI) surged 10% after the drugmaker said its treatment for small cell neuroendocrine prostate cancer had received fast track approval from the U.S. Food and Drug Administration.
Marqeta (MQ) shares advanced 5% after analysts at Bank of America upgraded their rating of the financial services group to «buy» from «neutral».
Citigroup © shares slipped 0.2% on a report that U.S. regulators had asked the lender to make urgent changes to the way it measures and controls risk.
CymaBay Therapeutics (NASDAQ:CBAY) stock rose 25% after Gilead Sciences (NASDAQ:GILD) announced it would acquire the drug developer for
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