Check out the companies making headlines in the midday deal: Tesla – the electric car maker pops nearly 12% and has become a top performer on the S&P 500. MegacapTech stocks and retail investors’ favourites are now nine weeks later. Azek – The outdoor product manufacturer has raised 17.3% after Australia’s James Hardie Industries agreed to acquire it with about $9 billion in cash and stock. Cement maker James Hardy fell over 17%. VISA – Credit card stocks rose 2.5% after Coinbase reported that World Network, a Crypto Firm run by Openai CEO Sam Altman, was in discussions with Visa about its Stablecoin wallet. Pinterest – Social Media Platform added 5% after Guggenheim upgraded its investment opinion to buy from neutral. Analyst Michael Morris added that the recent pullback has launched an attractive entry point for investors, and that user-based monetization should grow at a more market-higher rate over the next two years. VIASAT – Satellite stocks rose about 14.4% behind Deutsche Bank upgrades to buy from Hold. The bank said Viasat, which competes with Elon Musk’s Starlink, has “multiple passes” to generate stock value. Steel Dynamics, Nucor – After UBS upgraded steel producers to buy steel producers from neutral, Steel Dynamics and Nucor shares rose by more than 3% and 4%, respectively. Analyst Andrew Jones said he sees tariff protections on US steel and aluminum as helping to increase prices, and that President Donald Trump’s tariffs have created an attractive entry point for investors. I climbed over 4% of commercially available metals out of sympathy. 23AndMe – The DNA testing company collapsed more than 59% after filing for Chapter 11 bankruptcy protection in federal court. Co-founder Anne Wojcicki quickly resigned as CEO. Lockheed Martin – Defense contractors have extended their losses from Friday, extending their losses after losing their next-generation fighter jet contracts with Boeing, competing with the US Air Force. Bank of America downgraded LMT on Monday, saying the stock is likely to remain in scope following the contract award. Boeing – The aircraft manufacturer saw a stock rise over 1.5% after Wall Street research firm Merius upgraded to buy from Neutral. Merius cited “Operation-focused CEO.” This was catalyzed by an increase in post-strike 737 deliveries faster than expected and Lockheed’s victory in the Air Force’s next GEN Fighter program as a catalyst. FEDEX – Package delivery companies have risen by more than 5% after Jefferies upgrades were purchased from Hold. The company believes investors are ignoring the “singular cost transformation” happening beneath FedEx’s surface. Super Microcomputer – Goldman Sachs downgraded heels reduced high-tech hardware stock by 1%, sold from Neutral. After this year’s rally, the company said Super Micro has drawback risks associated with valuation, competition and profit margins. Generac – Generator Maker went on over 4% after Bank of America recovered coverage at the time of purchase. The bank said Generac could benefit from an increase in the number of natural disasters and the reliable power of aging baby boomers’ drug therapy and medical devices. – Reported by CNBC’s Michelle Fox, Lisa Kai-Lay Han, Sean Conlong, Yoon Lee and Hakyung Kim. Get tickets for Pro Live Join us on the New York Stock Exchange! An uncertain market? Earn Edge with CNBC Pro Live, the first exclusive event on the historic New York Stock Exchange. Access to expert insights is paramount in today’s dynamic financial situation. As a CNBC Pro subscriber, we encourage you to take part in the first exclusive, in-person CNBC Pro live event held at the iconic NYSE on Thursday, June 12th. Join ProSCarter Worte, an interactive pro clinic led by Dan Niles and Dan Ives, along with a special edition of Pro Talks with Tom Lee. You will also get the opportunity to network with CNBC experts, talent and other pro subscribers during exciting cocktail hours on the legendary trading floor. Tickets are limited!
Tesla, Azek, Boeing, etc.
