Rafael Henrique | SOPA images | flare | Getty Images
Check out the companies making the biggest moves at noon:
Roblox – Roblox shares soared 21% after the online gaming company reported September metrics that showed stronger engagement than a year ago.
Apple — The tech giant saw its share price rally more than 2% after Morgan Stanley reconfirmed the stock as overweight. The Wall Street company said Apple would do better than other tech companies in an economic downturn thanks to its loyal user base.
Continental Resources – Shares of the US oil producer rose 8.5% after chairman and founder Harold Hamm and his family reached an agreement to buy shares of Continental Resources, which it does not already own, for $74.28 per share.
Fox Corp, News Corp – Fox shares fell 8%, while News Corp was up more than 4% after Rupert Murdoch formed a special committee to review a possible deal that would bring his two media companies back together. On Monday, Credit Suisse downgraded Fox to neutral on the news.
Netflix — Netflix shares rose 7% in midday trade. Wells Fargo reiterated its equilibrium rating for the streaming service ahead of the company’s earnings this week. Last week Netflix announced that it would launch a new ad-supported service for $6.99 per month.
archaea energy — The natural producer’s shares rose 53% after the company agreed to be acquired by BP for $26 a share. The deal is valued at around $4.1 billion. bp Stocks rose more than 1%.
splunk — Shares of the software company rose 6.6% after it was announced that activist investor Starboard Value has a stake of about 5%. According to the Wall Street Journal, Starboard also has plans for Splunk to boost its stock price.
Kroger — The supermarket chain’s share slipped 2.7% after it was downgraded from “buy” to “neutral” by Northcoast. The company’s analysts have expressed reservations about approving Kroger’s merger with Albertsons.
cloud flare – Cloudflare’s stock rose 14% after Wells Fargo upgraded the IT services management company from equal weight to overweight. Wells Fargo said the fall in shares this year has created an attractive entry point and believes the company will benefit from an increased focus on consolidation.
solar power, Sunnova – Shares of SunPower and Sunnova gained about 2.6% and 3%, respectively, after Susquehanna began reporting on solar and renewable energy companies with a positive rating. The company’s analysts said they would benefit from the Inflation Reduction Act.
dish network — Dish Network’s stock gained almost 8% on Monday. Shares were down more than 7% last week when the news broke conx corp said it was in talks to acquire Dish’s retail wireless unit, Boost Mobile.
CreditSuisse — Bank Credit Suisse shares rose 4.7% after reports over the weekend that it was preparing to sell part of its Swiss bank to raise capital. The bank also recently agreed to pay $495 million to settle a US mortgage-linked investment case. In addition, according to Bloomberg, Christian Meissner, head of the investment bank, will leave the company in the coming weeks.
Speculative Tech Stocks – South American E-Commerce Stocks Mercadolibre rose 11% while Chinese tech stocks Pinduo increased by more than 6%. US names octa and Zscaler increased by 6.2% and 7.2% respectively. Treasury yields fell on Monday and investors turned to riskier trades.
Bank Stocks – Several bank stocks rose on Monday on positive gains for the sector. Bank of Americawhich beat estimates for better-than-expected bond trading rose more than 5%. Bank of New York Mellon gained 4.9% after his winning shot and signature bankwhich is due to report earnings on Tuesday, rose 6%.
– CNBC’s Alex Harring, Carmen Reinicke, Yun Li, Tanaya Macheel and Jesse Pound contributed coverage.