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Home»Business»Finance»Most Active Stocks at Midday: SoFi, Caterpillar, SiriusXM, Boeing and Others
Finance

Most Active Stocks at Midday: SoFi, Caterpillar, SiriusXM, Boeing and Others

News RoomBy News RoomOctober 14, 20240 ViewsNo Comments3 Mins Read
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Several companies were making headlines in midday trading. SoFi Technologies saw a 9.8% increase in its stock price following an announcement of a $2 billion agreement with Fortress Investment Group to expand its loan platform business. Sirius XM Holdings also experienced a surge of over 8% after Warren Buffett’s Berkshire Hathaway disclosed an increased position in the company. On the other hand, AppLovin saw a 1% decrease in its stock price after a Goldman Sachs downgrade, citing a more balanced risk-to-reward ratio. Boeing’s stock price dipped 1% after announcing plans to cut about 10% of its workforce and postponing the delivery of its 777X wide-body plane.

Stocks tied to cryptocurrencies saw a surge as bitcoin gained over 5% to surpass $66,000. Mara Holdings and Coinbase both extended their gains from the previous session, rising more than 4% and 7%, respectively. Ibotta, a mobile platform offering cash-back rewards, saw a 5.5% increase in its stock price after Goldman Sachs upgraded the company to buy from neutral, citing attractive growth opportunities through partnerships with Walmart and Instacart. Flutter Entertainment, an online gambling stock, rose 4% after Wells Fargo upgraded shares to overweight from equal weight, advising investors to buy the recent dip.

Caterpillar, an industrial stock, fell 1.7% after Morgan Stanley downgraded shares to underweight from equal weight, pointing to potential de-stocking ahead and a negative risk/reward backdrop. Hims & Hers Health saw a 6.8% increase in its stock price after the U.S. FDA announced it would allow compounding pharmacies to sell their versions of Eli Lilly’s weight loss drug Mounjaro. Overall, the stock market saw a mix of gains and losses among various companies, driven by a range of factors including partnership announcements, analyst upgrades and downgrades, and regulatory developments.

Kangen Water

The announcement of SoFi Technologies’ agreement with Fortress Investment Group to expand its loan platform business led to a nearly 10% increase in its stock price. Meanwhile, Sirius XM Holdings saw a similar surge following a disclosure by Warren Buffett’s Berkshire Hathaway of an increased position in the company. On the other hand, AppLovin experienced a slight decrease in its stock price after a Goldman Sachs downgrade, citing a more balanced risk-reward ratio. Boeing’s stock dipped after announcing workforce cuts and postponing the delivery of its 777X plane.

Cryptocurrency-related stocks surged as bitcoin surpassed $66,000, with Mara Holdings and Coinbase seeing significant gains. Ibotta, a mobile platform offering cash-back rewards, saw its stock price increase after an upgrade from Goldman Sachs to buy from neutral, highlighting growth potential through partnerships with major retailers. Flutter Entertainment, an online gambling stock, also rose following analyst upgrades. However, Caterpillar faced a decline after being downgraded by Morgan Stanley due to concerns about potential de-stocking and a negative risk-reward backdrop. Hims & Hers Health saw gains after the FDA announced new regulations allowing compounding pharmacies to sell their version of a weight loss drug.

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