Here are the shares making headlines on Wall Street.
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 Management, a multibillion greenback household workplace run by Bill Hwang. Nomura’s U.S.-traded inventory dropped more than 13%, whereas Credit Suisse shed more than 12%.
ViacomCBS, Discovery – The media firms’ shares continued to fall following studies from CNBC and others that Archegos Capital Management was forced to liquidate its positions in the companies. The class 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 more 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 Wood has garnered reputation amid her flagship ETF’s 150% return in 2020. Other constituents like L3Harris rose. Lockheed Martin and Boeing every rose about 2%.
Boeing – Shares of the plane maker gained more than 2%, changing into the biggest outperformer in the Dow Jones Industrial Average 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 first 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 mentioned that “tangible progress on product and tech platform” will driver “better 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 new goal is about 18% above the place shares traded on Monday.
Facebook – The social media inventory added 1.4% after Deutsche Bank hiked its worth goal to $385 per share from $355. The agency mentioned in a word to shopper that it’s rising more optimistic about Facebook’s promoting enterprise in 2021.
– CNBC’s Maggie Fitzgerald, Yun Li and Pippa Stevens contributed to this report.
