Stocks making the biggest moves midday: ChargePoint Holdings, Seagate Technology, C3.ai and more
Check out the companies making headlines in midday trading.
WestRock — The stock gained 5% in midday trading on news that the company is nearing a merger with Europe's Smurfit Kappa in a deal that could create a global paper and packaging giant worth around $20 billion, as first reported by The Wall Street Journal.
GameStop — The videogame retailer saw shares dip 1% even after the firm posted quarterly revenue that surpassed Wall Street estimates as well as a smaller-than-expected loss. GameStop said the strong revenue in the quarter came from «significant software release.»
Semiconductors — Semiconductor stocks slid as a group. Shares of Lam Research and Advanced Micro Devices fell more than 3% and 2%, respectively. Shares of Qualcomm dropped more than 6%. Nvidia declined more than 2%. On the other hand, shares of Intel bucked the trend, rising 2%.
Apple — Apple slid more than 3.4% after a Bloomberg News report said China plans to expand restrictions on iPhones to state-owned companies. Previously, The Wall Street Journal reported that China was planning to ban iPhone use in government-backed agencies.
Align Technology — The orthodontics stock dropped more than 7%. Align Technology said Wednesday it's acquiring 3D printing company Cubicure in a 79 million euro transaction, or roughly $84.6 million.
Rollins — Shares declined more than 6% after the pest control services company on Wednesday announced the start of a proposed secondary public offering of $1.35 billion of its common stock.
Seagate Technology — Seagate Technology shares dropped about 8% after Barclays downgraded the stock to equal weight form overweight. The Wall Street firm cited poor fundamentals and a recovery that could take longer than expected.
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