Stocks making the biggest moves midday: Meta Platforms, AMD, Cisco, Roku, MGM Resorts and more
Here are some of the stocks making the biggest moves in midday trading Monday. Meta Platforms – Shares of the social media giant jumped 2% after Meta said it would bring advertising to WhatsApp . The company will also start monetizing WhatsApp’s Channels feature through search ads and subscriptions. MGM Resorts – The casino operator’s shares advanced more than 7% after BetMGM LLC – which is jointly owned by MGM and Entain – updated its guidance for the full year. Net revenue for BetMGM is now expected to be at least $2.6 billion, up from the earlier outlook of $2.4 billion to $2.5 billion. Energy stocks – Shares of large energy companies slipped. Oil prices declined following reports that Iran wants to end hostilities with Israel. APA Corp dropped nearly 3%, while EOG Resources and ConocoPhillips lost about 2%. Cisco – The tech stock popped 2% after Deutsche Bank upgraded it to buy from hold, saying it’s trading at an “undemanding” valuation . Analyst Matt Niknam said Cisco’s targets are looking more realistic as it stands to benefit from growing demand for artificial intelligence. U.S. Steel — U.S. Steel shares jumped 5% after President Donald Trump issued an executive order on Friday approving its merger with Japan’s Nippon Steel. The companies also signed a national security agreement that includes a golden share for the U.S government. Although U.S. Steel did not specify what powers the government would wield with its share, Trump said on Thursday that the golden share gives the U.S. president ” total control .” Roku — The streaming platform jumped almost 8% after announcing an exclusive partnership with Amazon that gives advertisers access to what the two called “the largest authenticated footprint in connected TV .” The agreement enables advertisers to reach roughly 80 million U.S. households through the Amazon platform. Advanced Micro Devices — The chipmaker added more than 9% after a price target increase from Piper Sandler. After AMD’s quarterly pre-quarter close call on Friday, Piper said it expects AMD’s artificial intelligence business to surge after the third quarter when China-related charges have passed, and noted increased conviction among investors about a key hyperscaler client. EchoStar — The satellite company jumped 45% after Bloomberg News reported late Friday that President Donald Trump had pushed the head of the Federal Communications Commission to resolve a spectrum dispute. The company has threatened to file for bankruptcy protection and claims FCC threats blocked its ability to decide on a 5G network buildout. Celsius — The energy drink company rallied close to 6% after TD Cowen upgraded the stock to buy from hold , saying its “growth story is heating back up” and shares should trade higher this year. The investment bank said it is confident in the Celsius brand, the smooth integration of the company’s Alani Nu acquisition and wider distribution next year. Victoria’s Secret — Shares added about 2% following a report that activist investor Barington Capital Group has built a stake in the retailer. Barington intends to push Victoria’s Secret to overhaul its board and refocus its business, The Wall Street Journal said, citing a letter the firm sent to Victoria’s Secret Chairwoman Donna James. Sage Therapeutics — Sage soared 35% after agreeing to be acquired by Supernus Pharmaceuticals in a deal worth $12 a share, or $795 million. The deal would diversify Supernus’ revenue base and add FDA-approved postpartum depression drug treatment Zurzuvae, according to a statement. Sage shareholders would receive $8.50 a share in cash and a non-tradable contingent value right payable upon certain specific milestones worth up to $3.50 per share. Sarepta Therapeutics — The biopharmaceutical company plunged about 45% after Sarepta reported the death of a second patient receiving its Elevidys gene therapy for Duchenne muscular dystrophy. Sarepta halted shipments of Elevidys and is taking steps to improve safety for non-ambulatory patients. — CNBC’s Jesse Pound, Michelle Fox and Christina Cheddar Berk contributed reporting.
