Here’s a look at companies that were in the spotlight in midday trading: Visa — Shares fell nearly 4% after Bloomberg reported that the U.S. Department of Justice is preparing to file an antitrust lawsuit against the credit card network and payment processor. Smartsheet — Shares surged more than 6% after Blackstone and Vista Equity Partners agreed to buy the software maker for $56.50 per share, or about $8.4 billion, in cash. Pending shareholder approval, the deal is expected to close by January 2025 unless otherwise proposed. China Stocks — Shares of Chinese companies surged after the People’s Bank of China announced a series of stimulus measures. E-commerce giants JD.com, PDD Holdings and Alibaba rose 7% to 11%, while automakers Nio and Li Auto rose more than 8% each. Thor Industries — Recreational vehicle stocks rose 5% after a better-than-expected earnings report. Thor earned $1.68 a share on revenue of $2.53 billion in the fourth quarter. Analysts surveyed by LSEG had expected $1.30 a share on revenue of $2.47 billion. Arlo Technologies – Shares rose 4.5% after the company, which makes wireless surveillance products such as security cameras and video doorbells, said its board of directors authorized a share buyback of up to $50 million of its common stock. Flowserve – Shares rose nearly 5% after Bank of America reiterated a buy recommendation, saying the company’s exposure to nuclear power is “undervalued.” The bank said the company could benefit from the restart of the Three Mile Island nuclear plant and an imminent turning point in nuclear energy demand. BioNTech – U.S.-listed shares of the German biotechnology company rose 4.1% after Morgan Stanley upgraded the stock to overweight from equal weight. Morgan Stanley said BioNTech has executed a “broad” clinical development program. GE Burnova — The energy stock rose 2% after Guggenheim initiated research coverage with a buy recommendation and a $300 price target, 19% above Monday’s closing price. Analyst Joseph Osha sees room for “multiple years of profitability improvement.” — CNBC’s Alex Harring, Samantha Sabin, Lisa Kailai Han, Jesse Pound and Sarah Ming contributed to the report.
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