Check out the companies that are trending in intraday trading. Super Micro Computers, Deckers Outdoors — The technology company and athletic shoe designer gained 27% and 3, respectively, after S&P Dow Jones Indices announced Friday that the two stocks would be added to the S&P 500 on March 18. It skyrocketed by almost %. Computer and Deckers Outdoor will replace Zions Bancorpation and Whirlpool in the S&P MidCap 400 Index. Macy’s — Shares soared 16% after Arkhouse Management and Brigade Capital Management said they had increased their offers for the department store. The companies are currently offering to acquire Macy’s shares they don’t already own for $24 per share, about 14% higher than their previous offer of $21 per share. The new proposal values the company at $6.6 billion. Apple — European Union regulators have fined the iPhone maker nearly $2 billion, saying it violated competition law by preventing app developers from informing iOS users of alternative music subscription options. As a result, Apple’s profits fell by nearly 3%. Cryptocurrency stocks — Coinbase and MicroStrategy, which track the price of Bitcoin, rose 6% and 8%, respectively, as the cryptocurrency neared all-time highs. However, miners did not participate in the rally as the upcoming Bitcoin halving, which will reduce profits for mining companies, weighed on investors. Marathon Digital traded just above the flatline. Riot Platforms, Cipher Mining and CleanSpark each fell 5%, while Iris Energy fell 6%. DoorDash — Shares rose more than 5% after RBC upgraded the food delivery company to outperform segment earnings. RBC mentioned potential new partnerships with food delivery platforms, specifically Lyft. Lyft — The ride-sharing platform rose 6% after RBC upgraded the stock to an outperform rating from sector performer. The bank highlighted the company’s position in a “stable duopoly”, upcoming food delivery opportunities and optimistic 2024 EBITDA estimates. Kyverna Therapeutics — The biopharmaceutical company’s stock fell 1.8% after Wells Fargo, JPMorgan and Morgan Stanley initiated the stock with an overweight rating. The latter cites biopharmaceutical cell therapies for autoimmune diseases as a catalyst. Ferrari — The luxury automaker’s shares fell 2.7% after Citi downgraded Ferrari from neutral to sell, citing concerns that the company was overvalued. Li Auto — The Chinese automaker’s U.S.-listed shares fell more than 12% after the company reported disappointing February deliveries last week. Shares soared more than 25% last week after reports of higher profits. Dutch Brothers — Shares rose 1.4% after Piper Sandler upgraded the coffee chain from neutral to overweight. The company likes Dutch Bros.’ capital increase in September, strong same-store sales and announcement that it will pilot mobile ordering and mobile pay this year. American Airlines — Aircraft carrier stocks fell more than 3% after the airline ordered 260 new narrow-body jets, including 85 of Boeing’s 737 Max 10s. American Airlines also announced that it will convert an order for 30 Boeing 737 Max 8 aircraft to the larger 737 Max 10 model. Ford — The automaker rose 4.3% following strong February sales data compared to the same month last year. Ford’s profit was driven by increased sales of electric and hybrid vehicles. —CNBC’s Michelle Fox, Alexander Harring, Ha-Kyung Kim, Tanaya Machel, Yun Lee, Jesse Pound and Samantha Subin contributed reporting.
Macy’s, Lyft, Doordash, etc.
