Keeps You Updated!

Horizon Therapeutics, Coupa Software, Weber and more

Check out the companies making headlines in midday trading.

Horizon Therapeutics – Shares of the drugmaker jumped 15% after the company announced it has agreed to be acquired by Amgen in a deal valued at approximately $26.4 billion, or $116.50 per share, in cash. The deal will give Amgen a chance to build its portfolio of rare-disease treatments. Amgen shares fell more than 1%.

related investing news

JPMorgan says this resilient software stock can rally more than 25% even if the economy worsens


Weber – Shares of the grill manufacturer jumped 23% after the company announced a deal to be taken private by BDT Capital Partners. BDT will purchase Weber for $8.05 per share, according to the announcement.

Coupa Software – The maker of business spending management software jumped 26% after the private-equity firm Thoma Bravo agreed to buy the company in an all-cash deal worth $8 billion, or $81 per share.

Under Armour – The athletics apparel stock jumped 10% following an upgrade to buy from hold by Stifel. The firm cited Under Armour’s “better margin certainty” and management of inventory among its reasons for the upgrade.

Boeing – Shares of the aircraft maker jumped 2.8% after the Economic Times reported over the weekend that Air India is close to signing an order to acquire up to 150 737 Max jets.

Rivian – The electric vehicle stock shed more than 4% on news that it’s pausing plans to make electric vans in Europe in conjunction with Mercedes-Benz. Rivian CEO RJ Scaringe said the company is pursuing “the best risk-adjusted returns” on its capital investments, which includes focusing on its consumer and existing businesses. News of the agreement with the automobile maker was first announced in September.

Monday – Shares of the software publisher Monday jumped 6% after JPMorgan upgraded the stock to overweight from neutral and boosted its price target.

The Cheesecake Factory, Brinker International – The two restaurant stocks fell following downgrades to sell from neutral by Goldman Sachs. The firm said inflation will continue hurting the companies into 2023. Cheesecake Factory shed 1.6%, while Brinker, the parent of Chili’s and Maggiano’s Little Italy, dropped 2.9%.

Box – The software-as-a-service company gained 6.5% after JPMorgan upgraded the stock to overweight from neutral, arguing it is outperforming other technology names and can continue doing so going forward.

Tesla – Shares of Tesla fell more than 4% after a YouGov survey showed that negative views of the electric vehicle maker have overtaken positive ones just slightly. Tesla’s brand has deteriorated after CEO Elon Musk took over Twitter.

— CNBC’s Tanaya Macheel, Yun Li, Alex Harring, Samantha Subin and Jesse Pound contributed reporting

Leave a Reply

Your email address will not be published. Required fields are marked *