Apollo, GE, GameStop and extra
This is where stocks make headlines in midday trading.
Apollo Global Management – The private equity firm’s shares returned previous gains and fell more than 4% after the company announced it would merge with Athene Holding in an all-stock deal. The deal values Athene Holdings, a retirement planning company, at around $ 11 billion. The company’s shares rose 6%.
General Electric – GE shares rose 4% after the industrial company was on the verge of a $ 30 billion deal to combine its aircraft leasing business with Ireland’s AerCap Holdings to simplify its business, according to a report. The Wall Street Journal reported over the weekend that GE is on the verge of closing out GE Capital’s largest remaining unit, which was once a huge lending operation. AerCap’s shares rose 13.3%.
GameStop – The video game retailer’s shares continued volatile trading on Monday, rising nearly 41%. The company announced that former Chewy executive Ryan Cohen will chair a committee to shape the transition from GameStop to e-commerce.
Delta Air Lines, American Airlines, Southwest and United Airlines – The airline’s shares rose Monday on Monday amid optimism about the Covid pandemic. The Senate passed a $ 1.9 trillion stimulus bill and Covid vaccinations topped 3 million over the weekend. Delta Air Lines shares rose 3.6%. American stocks rose 5% while the Southwest rose more than 6%. United Airlines 7%.
McAfee – The cybersecurity company’s shares rose more than 12% after it was revealed it had sold its corporate business to privately held Symphony Technology Group for $ 4 billion in cash.
Disney – The inventory of media and theme parks increased about 6% after California eased Covid rules, paving the way for Disneyland for a limited reopening in April. The Centers for Disease Control and Prevention also said people who were fully vaccinated against Covid-19 on Monday can safely meet indoors without masks, further raising hopes for a reopening.
VF Corp – The apparel and footwear company’s stocks rose 3.5% after Pivotal Research upgraded the stock to buy from the hold. The Wall Street company said VF currently has a cheap setup after its North Face brand transitioned.
Coca-Cola – Beverage inventory rose 1.7% after RBC Capital Markets upgraded Coca-Cola to outperform the market. The company said in a note that the company should benefit from increased mobility as Covid restrictions are eased around the world.
– CNBC’s Tom Franck, Maggie Fitzgerald, Yun Li, Pippa Stevens and Michael Bloom contributed to this story.