Stocks making the biggest moves midday: FedEx, Continental Resources, Oracle and more

0 8

Check out the companies making headlines in midday trading.

Continental Resources — Shares soared 14% after the shale company announced an all-cash buyout proposal from the family trust of billionaire founder Harold Hamm. Continental Resources said it’s yet to review the offer that would take the company private in a $25.4 billion deal.

FedEx — Shares of the parcel delivery firm jumped nearly 13% after FedEx raised its quarterly dividend by more than 50% to $1.15 per share. FedEx also said it added two directors to its board as part of an agreement with hedge fund D.E. Shaw.

Oracle — The database software company saw its shares pop more than 8% after reporting fiscal fourth-quarter results that exceeded analysts’ estimates on the top and bottom lines. CEO Safra Catz said the company saw a “major increase in demand” for cloud infrastructure.

Occidental Petroleum, Phillips 66, Marathon Oil — Shares of oil and gas companies jumped on the back of rising oil prices on Tuesday. Shares of Occidental Petroleum spiked more than 6%, Phillips 66 jumped nearly 5% and Marathon Oil rose more than 4%.

National Vision — Shares jumped 9% following news that the optical retailer will enter the S&P SmallCap 600 index this week. National Vision will replace Renewable Energy Group, which was acquired by Chevron.

Twitter — Shares added more than 2% following reports that Elon Musk will address Twitter employees during an all-hands meeting this week. Musk has walked back and forth on an offer to buy the social media company for $44 billion.

C.H. Robinson Worldwide — Shares jumped 8% following a Reuters report that said C.H. Robinson Worldwide’s international cargo transport business has drawn interest from Danish transport company DSV A/S. An acquisition of C.H. Robinson’s global forwarding business could reportedly fetch $9 billion.

Nokia — The U.S. traded shares of the Finnish communications network company rose nearly 2% following an upgrade to buy from neutral at Citi. The investment firm said in a note that Nokia has stopped losing market share to competitors and has conservative targets for its margins.

Coty — Shares spiked more than 5% after the cosmetics company reaffirmed its current-quarter and full-year outlook.

— CNBC’s Yun Li and Jesse Pound contributed reporting.

Leave A Reply

Your email address will not be published.