Stocks making the biggest moves midday: Roblox, Continental Resources, Fox Corp and more
In this article
Check out the companies making the biggest moves midday:
Roblox — Roblox shares shot up 21% after the online gaming company reported metrics for September that showed stronger engagement than a year ago.
Apple — The tech giant saw its shares rally more than 2% after Morgan Stanley reiterated the stock as overweight. The Wall Street firm said Apple would fare better than other technology companies in the event of an economic downswing, thanks to its loyal user base.
Continental Resources — Shares of the U.S. oil producer rose 8.5% after chairman and founder Harold Hamm and his family reached a deal to acquire shares of Continental Resources it doesn't already own for $74.28 per share.
Fox Corp, News Corp — Fox shares dropped 8%, while News Corp gained more than 4% after Rupert Murdoch formed a special committee to explore a possible deal that would put his two media companies back together. On Monday, Credit Suisse downgraded Fox to neutral from outperform on the news.
Netflix — Netflix's stock rose 7% in midday trading. Wells Fargo reiterated its equal weight rating on the streaming service ahead of the company's earnings this week. Last week, Netflix announced it will launch a new ad-supported service for $6.99 a month.
Archaea Energy — The natural producer's stock soared 53% after the company agreed to be acquired by BP for $26 per share. The deal is worth about $4.1 billion. BP shares were up more than 1%.
Splunk — Shares of the software company climbed 6.6% following a report that activist investor Starboard Value has a roughly 5% stake in it. Starboard also has plans for Splunk to help boost its stock price, according to the Wall Street Journal.
Kroger — Share of the supermarket chain slid 2.7% after
Read more on cnbc.com
