Here are the companies in the spotlight during midday trading:
- SoFi Technologies: Shares rose 11.4% after a $2 billion deal with Fortress Investment Group.
- Sirius XM Holdings: Stock increased 7.9% after Berkshire Hathaway bought about 3.6 million more shares, totaling over 108 million shares.
- Crypto Stocks: With Bitcoin up over 5% to $66,000, Mara Holdings and Coinbase gained 5.6% and 11.3%, respectively.
- AppLovin: Shares fell over 1% following a downgrade from Goldman Sachs, which noted a balanced risk-reward ratio.
- Boeing: Stock dipped over 1% after announcing plans to cut 10% of its workforce and delaying the delivery of its 777X plane.
- Ibotta: Shares gained over 7% after an upgrade from Goldman Sachs, highlighting growth opportunities with Walmart and Instacart.
- Flutter Entertainment: Stock rose over 4% after an upgrade from Wells Fargo and reinstatement of buy rating from Bank of America.
- Caterpillar: Shares fell around 2% after a downgrade from Morgan Stanley due to potential de-stocking risks.
- Hims & Hers Health: Stock jumped over 9% after the FDA allowed compounding pharmacies to sell versions of Eli Lilly’s weight loss drug Mounjaro.
— Reporting by CNBC’s Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, and Michelle Fox.
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