Here are the stocks that make headlines in the midday trade.
Apollo Global Management – The private equity firm’s shares returned previous earnings and fell more than 4% after the company announced it would merge with Athene Holding in an all-share transaction. The deal values Athene Holdings, a retirement services company, at about $ 11 billion. The company’s stock soared more than 6%.
General Electric – GE shares rose 5% in the midday trading session after a report said the industrial company is approaching a deal worth more than $ 30 billion to combine its aircraft leasing business with AerCap Holdings Ireland to simplify your business. The Wall Street Journal reported over the weekend that GE is close to an agreement to combine GE Capital’s largest remaining unit, which was once a vast loan operation. AerCap’s shares jumped 15%.
GameStop – The video game retailer’s stock continued its volatile trading on Monday, up almost 40%. The company announced that former Chewy executive Ryan Cohen will lead a committee to shape GameStop’s transition to e-commerce.
Delta Air Lines, American Airlines, Southwest and United Airlines – Airline stocks rose on Monday amid optimism about the Covid pandemic. The Senate passed a $ 1.9 trillion stimulus bill and Covid’s vaccinations exceeded 3 million over the weekend. Delta Air Lines shares were up more than 3%. American’s shares were up 5%, while Southwest was up more than 4%. United Airlines won more than 6%.
McAfee – Shares in the cybersecurity company rose more than 14% in the midday trading session after news that it sold its corporate business to Symphony Technology Group for $ 4 billion in cash.
Disney – Media and theme park stocks jumped about 5% after California loosened Covid’s rules, paving the way for Disneyland to reopen to a limited extent in April. The Centers for Disease Control and Prevention also said on Monday that people who have been fully vaccinated against Covid-19 can safely gather indoors, without masks, further raising hopes of reopening.
VF Corp – The shares of the clothing and footwear company jumped about 4% after Pivotal Research updated the shares to buy. The Wall Street company said VF has a favorable configuration now, after its North Face brand has undergone a transition.
Coca-Cola – The beverage stock rose 2.7% after RBC Capital Markets updated Coca-Cola to outperform the market. The company said in a note that the company should benefit from increased mobility as Covid’s restrictions are eased around the world.