Rafael Henrique | LightRakete | Getty Images
Check out the companies that are making the headlines in midday trading.
DoorDash – DoorDash’s shares rose approximately 5% after the grocery delivery company announced a partnership with Albertsons to deliver groceries from nearly 2,000 stores on the same day. “Thanks to our extensive logistics network and the large selection of fresh food from Albertsons, we are creating a one-stop shop where customers can have all the important things they need delivered to their door within an hour,” says Fuad Hannon, head of new verticals at DoorDash said in a press release.
MicroStrategy – The stock of business intelligence company MicroStrategy fell about 9% after Bitcoin price fell below $ 32,000 for the first time since June 8. The company, which already held tens of thousands of bitcoins on its balance sheet, bought 13,005 units of the digital currency Monday morning, bringing its total holdings of bitcoins to more than 100,000, valued at more than $ 3 billion.
Coinbase – The stocks of the largest cryptocurrency exchange in the United States fell more than 3% after Bitcoin’s price fell. Coinbase’s previous business is tightly tied to the price of Bitcoin and Ether, although this may change in the future as it expands.
Nvidia – The semiconductor stock lost more than 2% after Bitcoin fell. The company makes chips that are used in cryptocurrency mining.
Raven Industries – Raven Industries’ shares rose nearly 50% after the agricultural engineering company announced it would be acquired by CNH Industrial for $ 58.00 per share, or $ 2.1 billion. The selling price per share was 33.6% of the volume-weighted average share price of Raven Industries over four weeks.
ZipRecruiter – The company’s shares rose more than 8% after Goldman Sachs and Evercore ISI began reporting the stock at purchase-equivalent valuations. “We believe the risk / reward ratio of owning ZIP stock is positive in a favorable environment of employer demand,” said Goldman. The company sees the stock rise to $ 28, which is about 32% above the stock’s closing price on Friday. Evercore has a target price of $ 31 on the stock.
Boston Beer – Beverage stock rose about 1.5% on Monday after Guggenheim named Boston Beer one of its best ideas. The company said in a note that concerns about declining retail sales for alcohol are overshadowing the strong growth of the company’s Truly brand.
Paylocity – Paylocity stocks rose 1.7% after Cowen named the cloud-based payroll and human capital management software company a top idea. The bank described Paylocity as an “attractive” growth investment.
Nike – Nike stocks rose 1.3% after Telsey confirmed its rating of the sportswear brand as outperforming. The Wall Street firm said Nike is likely to be under “short-term pressures” but the positive momentum continues. Telsey noted that demand for sportswear, shoes, and Nike products was strong in the United States.
Uber – Uber stock fell nearly 3% despite being ranked a top pick for the second half of 2021 by Bank of America. The Wall Street firm said several key catalysts are coming for Uber, including potential IPOs in the industry that could transform comps or assets, competitive launches, and the end of US unemployment benefits.
Figs – Figs stocks rose more than 12% after Credit Suisse and KeyBanc commenced coverage of the medical apparel company with above average and overweight valuations. “FIGS is disrupting the stagnant and innovative US health care apparel industry valued at $ 12 billion.
– CNBC’s Tanaya Macheel, Yun Li, Maggie Fitzgerald, Pippa Stevens and Jesse Pound contributed to the coverage
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign in to get started Try it for free today