The logo and trading symbol for Twitter is displayed on a screen on the floor of the New York Stock Exchange (NYSE), July 11, 2022.
Brendan McDermid | Reuters
Check out the companies making headlines in afternoon trading.
Commonwealth Program — Shares fell 17% after the interactive software company announced merger agreement with a software company Source of iron In a $4.4 billion all-stock transaction. Unity too cut full-year revenue guidance. Shares of ironSource rose more than 45% on the news.
Seam Fixing — Shares of Stitch Fix jumped 18% after Benchmark Capital’s Bill Gurley, who sits on the apparel company’s board, announced he bought 1 million shares in addition to his previous stake of 1.22 million. Gurley paid an average of $5.43 per share, according to SEC filings.
twitter — Shares of the social media company rose more than 8% after the firm He filed a lawsuit against Elon Musk after canceling a $44 billion deal to buy the company. Twitter said Musk’s behavior in stalking the social network was “in bad faith.” Shares are still down about 2% year to date.
DigitalOcean — Shares of the cloud computing company fell 2% after Goldman Sachs doubled its rating from buy to sell. The firm said DigitalOcean could face a slowdown in demand, particularly from overseas consumers.
Delta Airlines — Shares of Delta Air Lines fell 6% mixed income statement. Shares of other airlines fell. Shares of American Airlines also fell more than 4%, while Alaska Air Group fell more than 2%.
Connector — Shares of Fastenal fell 5% after the industrial supply company reported weaker demand in the latest quarter. “Demand remained generally healthy, but there were some signs of softening that emerged in May and June,” he said. notes From CEO Daniel L. Florness.
space — Shares of the retailer fell 2.5% after Deutsche Bank downgraded it from buy to hold. The firm addressed the implementation challenges in the company, the growing promotional environment of retail and Departure of CEO Sonia Syngal reasons for lowering the level.
Advanced Micro Devices — On Wednesday, several chips exceeded the reserve. Advanced Micro Devices and Qualcomm each rose more than 2%.
— CNBC’s Yun Li, Jesse Pound and Carmen Reinicke contributed reporting
