Stocks making the biggest moves midday: Palo Alto Networks, 3M, Amedisys, Target and more
Check out the companies making headlines in midday trading.
Palo Alto Networks — The cybersecurity stock jumped more than 4% after S&P Dow Jones Indices announced Friday postmarket that it will replace Dish Network in the S&P 500, effective June 20. Dish Network dipped about 1%.
3M — The industrial manufacturer's shares slid 3% after the judge in the company's multi-district litigation over so-called forever chemicals agreed to delay the first trial by three weeks so parties can finalize a settlement of claims with municipal water providers, Bloomberg reported Monday.
Coinbase – Shares of the crypto exchange and services company tumbled 10% after the Securities and Exchange Commission sued crypto exchange Binance on Monday, alleging that Binance and its cofounder Changpeng Zhao commingled billions of dollars of investor funds with their own and violated securities laws.
EPAM Systems — Shares of the software engineering firm tumbled 18% after it cut guidance amid further deterioration in near-term demand. Q2 earnings per share guidance of between $2.33-$2.40 was slightly below the FactSet estimate of $2.43. It also lowered full-year earnings estimates and revenue estimates for both the second quarter and full year to below analysts' estimates.
Amedisys — The healthcare company's shares rallied 14% after it received an unsolicited buyout offer from Optum, a unit of UnitedHealth, to acquire Amedisys for $100 a share in cash. Shares in Option Care Health, which has a competing agreed upon offer to buy Amedisys, surged 7%.
ImmunoGen — The biotech company's shares gained 5% after it announced results from ovarian cancer treatment Elahere showing a roughly 35% reduction in the risk of disease progression or death compared to
Read more on cnbc.com
