Stocks had been up on Monday on a flurry of M&A news and favourable developments on a covid-19 vaccine by Pfizer (PFE) – Get Pfizer Inc. Report. In this article are some of the most significant tech movers for Sept. 14.
Shares of Overstock (OSTK) – Get Overstock.com, Inc. Report rose 10% to $72.13 following Needham initiated coverage of the inventory with a obtain rating. The expense firm wrote that the company is “benefiting from exterior and internal things that are driving an acceleration in earnings progress and sector share gains,” together with an over-all change to on-line buying for household products.
Shares of Micron (MU) – Get Micron Technologies, Inc. (MU) Report rose 6.8% to $49.23 just after Goldman Sachs upgraded the stock from invest in from neutral and affirmed a $58 selling price concentrate on. Analysts wrote that “indicators of supply self-discipline on the section of the memory suppliers (i.e. capital-expenditure cuts) and cost stabilization will serve as potential catalysts for the stock.” Micron stock has underperformed the current market this year, down 11% yr to day, tied to pricing weak spot in DRAM and NAND goods.
Shares of Nvidia (NVDA) – Get NVIDIA Corporation Report jumped 5.6% to $513.86 right after it reached an agreement to get Arm Holdings from SoftBank for $40 billion. Nvidia reported in a news launch on Monday that the offer will be immediately accretive to Nvidia’s non-GAAP gross margin and non-GAAP for each-share earnings.
Shares of Oracle (ORCL) – Get Oracle Company Report rose 4.9% to $59.77 following the firm confirmed that it is a “trusted technology lover,” as component of a consortium presented to the U.S. authorities, to obtain the U.S. property of TikTok. Microsoft (MSFT) – Get Microsoft Company (MSFT) Report said in a information launch on Sunday that its bid was rejected, leaving Oracle as the likely suitor. Oracle’s bid is backed by non-public fairness companies Sequoia Cash and General Atlantic, in accordance to reviews.
Peloton (PTON) – Get Peloton Interactive, Inc. Course A Report stock fell 4.2% to $80.50 on Monday. Fitness centers and indoor exercise studios have been accepted to partly reopen in some municipalities, these kinds of as San Francisco and the New York Town region.