Know about the companies making headlines in mid-day trading.
Spirit Airlines Budget airline shares fall over 7% amid reports Advisory firm Institutional Shareholder Services asks Spirit shareholders to vote for proposed merger with Frontier Airlinescomes after Frontier Airlines raises the cash portion of its offer to $2 per share and increased the reverse break-up fee.
Robin Hood Robinhood rose more than 3% after it was upgraded to neutral by selling shares of Goldman Sachs’ stock trading company. This upgrade a. came despite the release of Report detailing the difficulties of Congress In dealing with the meme-stock frenzy of January 2021.
coinbase – Shares of cryptocurrency exchange fell 9% after Goldman Sachs Downgraded to sell it From neutral, highlighting the pressure that cryptocurrency prices are putting on Coinbase’s exchange business and saying that the company needs to reduce costs to slow its cash burn.
Digital World Acquisition Corp. Blankcheck, the company linked to former President Donald Trump’s social media venture, saw its shares sink more than 9% It disclosed in a filing that its board of directors had received subpoenas from a federal grand jury.DWAC, which is already under investigation by the SEC, said the investigation and subpoenas could affect its merger with Trump’s media company.
biontech Biotechnology company shares jump nearly 6% Following is the news that its COVID-19 booster shot down with Pfizer to combat Omicron, Improved immune response to the variant. Shares of Pfizer rose nearly 1 percent on the news.
AUTOZONE – AutoZone shares rose nearly 1% Goldman Sachs buys the stock by upgrading it from neutral rating And said the company is “defensively positioned” to weather the current climate.
Etsy – share Dropped more than 4% after downgrade from NeedhamAnalyst Anna Andreeva downgraded the rating to prevent the buyout, saying Etsy’s business would be hit by rising inflationary pressures.
— CNBC’s Tanaya Machil and Sarah Min contributed reporting