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HomeFinance NewsMidday Market Movers: KMX, ACN, PTON, JEF - Leading Stocks' Surges.

Midday Market Movers: KMX, ACN, PTON, JEF – Leading Stocks’ Surges.

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Trimble, a technology services provider, experienced a 6.4% jump in its stock price after AGCO Corporation announced its plans to acquire an 85% stake in Trimble’s agribusiness for $2 billion in cash. The acquisition aims to expand AGCO’s precision agriculture portfolio. Meanwhile, DigitalBridge, a digital infrastructure company, saw its shares rise by 5.8% following an upgrade from JPMorgan, which stated that DigitalBridge has completed the transformation of its business. Jefferies Financial Group, despite facing a slowdown in deal-making that affected its third-quarter profits, witnessed a more than 2% increase in its stock price due to optimism from its CEO regarding the return of momentum in investment banking activity.

Duolingo, a language learning platform, experienced a 4.5% increase in its shares after UBS initiated coverage with a buy rating, citing it as a “best-in-class brand.” Host Hotels & Resorts, a real estate investment trust, gained 3.8% following Wolfe Research’s initiation of coverage with an outperform rating and a $22 price target. On the other hand, Workday, a cloud services company, saw its shares plunge by 8.6% after lowering its long-term subscription growth target.

Accenture, an IT and consulting firm, faced a nearly 5% decline in its shares after reporting mixed results for its fiscal fourth quarter. Micron, a chipmaker, experienced a 2.7% drop due to a weaker-than-expected earnings forecast. Conversely, Peloton’s stock increased by 7% following its five-year strategic partnership with Lululemon. CarMax, a used-car retailer, saw its shares fall by 9.5% as demand for used cars weakened. Concentrix, a consumer experience tech company, gained 10% in response to its announcement of a 10% increase in its quarterly dividend.

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