Stock Market
Cleveland-Cliffs, Liberty Energy, Hologic and more
Published
6 months agoon
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admin
Check out the companies making headlines before the bell. Cleveland-Cliffs — Shares jumped 10.5% as the steel company posted its third-quarter results. Cleveland-Cliffs reported adjusted EBITDA of $143 million, topping a FactSet estimate of $127.9 million. The company also issued capital expenditures guidance of around $525 million for the year, less than a prior forecast of $600 million. Rare earths — The group is trading higher after Bloomberg News reported that Australia’s prime minister plans to offer his nation’s resource holdings to the President Donald Trump after China’s move to limit its exports to the U.S. Shares of United States Antimony jumped nearly 15%, while Critical Metals and USA Rare Earth rose 9% and 6%, respectively. Liberty Energy — Shares jumped 5.6%, adding to Friday’s rally of more than 28%. While the energy services company missed expectations for third-quarter revenue from analysts polled by FactSet, investors appeared pleased with upbeat sales commentary. Hologic — The medical imaging stock rose 4.5% after Bloomberg reported that Blackstone and TPG are nearing an agreement for a more than $17 billion acquisition of the medical technology firm. Cooper Companies — The stock jumped 4.2% after Reuters, citing sources familiar with the matter , said activist investor Jana Partners has built a stake in the medical device maker. Robinhood — The brokerage rose are trading 3% higher after several large investors raised their stakes in the trading platform, per regulatory filings. AMD — The chipmaker ticked up nearly 2% after Bank of America raised its price target to $300 per share from $250 and maintained its buy rating on shares. Ally Financial — The stock is up 2% after TD Cowen upgraded the financial services company to buy from hold, citing Ally’s credit and margin strength. Regional banks — The group ticked higher as it continued its recovery from a scare last week tied to bad loans. Zions Bancorp and Western Alliance rose 0.8% and 0.4%, respectively. Triumph Financial gained more than 2% in thin trading. The SPDR S & P Regional Banking ETF (KRE) advanced 0.6%. — CNBC’s Alex Harring, Sarah Min, Michelle Fox Theobald and Fred Imbert contributed reporting
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