MARKET INSIDER Stocks making the biggest moves midday: JetBlue, Hawaiian Electric, KeyCorp, Monday.com and more
Here’s a recap of the movers and shakers in the midday trading world:
JetBlue stocks took a hit, falling 13% as the airline revealed its plans to sell $400 million of five-year convertible senior notes.
Shares of Hawaiian Electric Industries tumbled more than 16% following the company’s announcement that it lacks a financing plan for the $1.7 billion Maui windstorm and wildfire settlement payment. The utility company also shared a $1.3 billion consolidated net loss for Q2.
Cleveland-based regional bank, KeyCorp, saw a remarkable 13% surge after The Bank of Nova Scotia decided to acquire a minority stake, positioning KeyCorp as a leading performer in the S&P 500 on Monday. As per the deal, KeyCorp is set to receive roughly $2.8 billion in cash.
Monday.com boosted investor confidence by achieving a 12% surge reaching a new 52-week high, following impressive Q2 results that exceeded expectations.
However, Marathon Digital’s shares dipped about 7% following its announcement of a $250 million private debt offering of seven-year notes.
An almost 4% jump in Starbucks stocks was triggered by reports of activist investor Starboard Value accumulating a stake and urging the coffee giant to pump up its stock price.
Qualcomm shares dipped around 2% in response to a downgrade to peer perform from outperform by Wolfe Research due to Apple using its in-house modem.
Robinhood stocks climbed 2.5% thanks to a Piper Sandler upgrade, which foresees benefits from “continued growth in global retail & derivatives trading” and “generational wealth transfer”.
Lastly, Par Technology saw a 1.8% increase in stocks after a Jefferies upgrade citing that the restaurant technology company now possesses scale and momentum.
