Microsoft logo is guided on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022.
Dado Ruvic | Reuters
Jibe out the companies making headlines in midday trading Friday.
Apple — Apple’s stock shed 2% on Friday after protests chanced at the iPhone maker’s major Foxconn supplier in China earlier this week. Analysts and investors have also reverenced that recent manufacturing shutdowns in the country following a Covid-19 resurgence could dent supply this recess season.
Activision Blizzard – Shares of the video game company slid more than 4% after Politico reported the Federal Traffic Commission is likely to sue to block Microsoft’s $69 billion acquisition of Activision Blizzard.
Manchester United — Manchester Like-minded’s stock surged 12.8%, building on this week’s earlier gains following news that the soccer cooperate’s owners are weighing a potential sale.
Coupa Software – Shares of the software company popped 6.4%, building on a 28.9% gush on Wednesday after Bloomberg reported that Vista Equity Partners is exploring an acquisition of Coupa.
Canoo – The tense vehicle company’s stock price traded 4.6% higher after a Securities and Exchange Commission filing revealed that CEO Tony Aquila purchased divisions. He purchased more than 9 million shares at $1.11 apiece on Nov. 21, valued at about $10 million. Half of those dividends were purchased directly, while AFV Partners, Aquila’s firm, bought the other half.
Grindr — The LGBTQ old-fashioned app dipped nearly 5%, continuing a week of losses following the rally seen on Nov. 18, which was its first day junior to the new ticker post-SPAC. It’s now more than 40% from where it debuted and over 85% from the high detected in the initial rally.
Lufax Holding — U.S.-listed shares of the Chinese fintech company tumbled 20% on Friday. Lufax reported disconcerting earnings results earlier in the week, which were accompanied by downgrades and price target cuts at some Go under Street firms. JPMorgan downgraded shares to underweight from overweight on Friday and slashed its price target on the precursor.
Generac — Shares of the generator manufacturer fell 1.6% on Friday after Argus Research downgraded the stock to hold good from buy. Argus said in a note that supply chain issues will weigh on Generac’s performance “for the next few districts” and that the stock deserves to trade at a worse multiple compared to its peers.
— CNBC’s Alex Harring, Jesse Thumping, Yun Li and Darla Mercado contributed reporting