The midday trading session saw several companies making headlines with significant stock movements. New York Community Bancorp saw a 3.1% increase in its stock after a surge in insider buying, while Diamondback Energy jumped 10.1% following its acquisition of Endeavor Energy for $26 billion. Additionally, CymaBay Therapeutics experienced a 25% surge in its shares after Gilead agreed to acquire the drug developer, and clothing maker VF Corp. traded 11.5% higher after reports of support from the company’s founding family for activist investor Engaged Capital.
In other news, Trimble’s shares rose 3.1% after reporting better-than-expected fourth-quarter earnings, and Rocket Lab saw a 7.7% increase in its stock following a buy rating from Citi. On the other hand, Big Lots experienced a 31.1% decrease in its stock after a downgrade to sell from Loop Capital, citing loss of consumer awareness and a deteriorating financial standing.
Several other companies also saw movements in their stock prices during the midday trading session, showcasing the dynamic and ever-changing nature of the stock market. From upgrades and acquisitions to shifts in analyst ratings, the midday trading session was indeed eventful for various companies.