New England Patriots cornerback Stephen Gilmore (2) extends during the New England Patriots practice session on October 22, 2020 at Foxboro, MA.
Barry Chin | Boston Globe | Getty Images
Check out the companies that make headlines in afternoon trading.
ENERGY STOCKS – West Texas Intermediate Crude futures traded higher above 81 81 a barrel on Monday, sending oil stocks up again. Shares of Diamondback Energy rose 3%, while Hollyburton rose 4.9%. Sunrun and Enfage Energy jumped more than 6% and solar stocks also moved higher.
Freeport-McMorran-shares rose 6% and were among the biggest gainers in the S&P 500. The stock rose amid a rally in the energy and industrial sectors and rising copper prices.
Shares of garment makers fell after retailer-cotton prices hit a 10-year high of 1. 1.16 per pound on Friday. The gap narrowed by 3.4% and Levi Strauss lost 2%. Shares of Ralph Lauren also fell.
Charter, Comcast – Stocks of both cables fell on Monday after Raymond James downgraded them for market performance. Comcast lost more than 2.5% and Certificate lost less than 1%.
Sophie Technologies – Morgan Stanley started coverage with an overweight rating when shares of an online personal finance company rose more than 10%. The Wall Street firm is bright about Sophie’s student loan rescheduling business and says the potential approval of Sophie’s bank charter application is another potential catalyst for improvement.
Aspen Technology – Industrial software maker’s stock rose 9% after announcing a merger agreement with Emerson Electric to merge its two software businesses. The cash and stock contract price is about 160 160 per share.
The steelmaker announced that it would acquire Ferrous Processing and Trading, a scrap metal company, after gaining more than 5% of its shares in Cleveland-Cliffs-Cleveland-Cliffs. The acquisition will mark Cleveland-Cliff’s entry into the scrap business.
Draftkings – Sports betting company shares rose nearly 4% when Citi began coverage with a buy rating. The Wall Street firm says the company is a “market leader” in betting.
Southwest Airlines – Air carrier stock prices fell more than 1% after canceling more than 2,000 flights over the weekend, blaming air traffic control problems, bad weather and its own staffing crisis.
Shares of Bitcoin on the Coinbase-Cryptocurrency Exchange rose more than 5% as it extended its two-week rally to an all-time high. Coinbase’s stock continues to trade with cryptocurrency prices because most of its revenue comes from trading fees.
– CNBC’s Eun Lee, Maggie Fitzgerald, Jesse Pound and Hannah Mia also contributed to the report.
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