Listed below are the shares making headlines on Wall Road.
Nomura, Credit Suisse – Shares of each banks fell after they warned investors of significant hits caused by the forced liquidation of stock positions held by a U.S. hedge fund. CNBC and different retailers have reported that the fund is Archegos Capital Administration, a multibillion greenback household workplace run by Invoice Hwang. Nomura’s U.S.-traded inventory dropped greater than 13%, whereas Credit score Suisse shed greater than 12%.
ViacomCBS, Discovery – The media corporations’ shares continued to fall following experiences from CNBC and others that Archegos Capital Management was forced to liquidate its positions in the companies. The category B shares of ViacomCBS dropped 7.3% on Monday, whereas Discovery’s class A shares fell 2.5%.
Kratos Defense & Security Solutions – Shares of the protection firm rose greater than 6% following information that Ark Invest’s new space ETF will start trading on Tuesday with Kratos as a top holding. Ark’s CEO and chief funding officer Cathie Wooden has garnered recognition amid her flagship ETF’s 150% return in 2020. Different constituents like L3Harris rose. Lockheed Martin and Boeing every rose about 2%.
Boeing – Shares of the plane maker gained greater than 2%, turning into the largest outperformer within the Dow Jones Industrial Common in noon buying and selling. The advance got here after information that Southwest Airlines had added 100 orders for the airliner’s 737 Max jet. The primary 30 jets are scheduled for supply in 2022.
Twitter – Shares of the social media firm superior 1.8% after Truist upgraded the stock to a buy rating. The agency stated that “tangible progress on product and tech platform” will driver “higher traction with customers and advertisers.” The agency additionally lifted its worth goal on the inventory to $74, up from a previous goal of $64. The brand new goal is about 18% above the place shares traded on Monday.
Facebook – The social media inventory added 1.4% after Deutsche Financial institution hiked its worth goal to $385 per share from $355. The agency stated in a be aware to consumer that it’s rising extra optimistic about Fb’s promoting enterprise in 2021.