Here are the stocks that are making headlines in the afternoon trading.
Apollo Global Management – Shares of the private equity firm returned returns earlier and fell by more than 4% after the company announced it would merge with Athens Holding in a deal with all shares. The deal estimates Athens Holdings, a retirement services company, at about $ 11 billion. The shares of the company rose more than 6%.
General Electric – GE shares rose 5% during afternoon trading following a report that the industrial company is approaching a deal worth more than $ 30 billion to combine its aircraft rental business with AerCap Holdings in Ireland simplify. The Wall Street Journal reported over the weekend that GE is close to an agreement to combine the largest remaining unit of GE Capital, which was once a major lender. Shares in AerCap rose 15%.
GameStop – Shares of the video game trader continued its volatile trading on Monday, rising by almost 40%. The company has announced that former Chewy CEO Ryan Cohen will lead a committee to shape GameStop’s transition to e-commerce.
Delta Air Lines, American Airlines, Southwest and United Airlines – Airline shares rose on Monday amid optimism over the Covid pandemic. The Senate approved a $ 1.9 billion stimulus bill and Covid vaccinations amounted to $ 3 million this past weekend. Shares of Delta Air Lines rose more than 3%. US shares rose 5%, while Suidwes rose more than 4%. United Airlines achieved more than 6%.
McAfee – Shares of the cybersecurity company rose more than 14% in afternoon trading following the news that it had sold its business to privately held Symphony Technology Group for $ 4 billion in cash.
Disney – Media and theme park shares rose about 5% after California softened the Covid rules, paving the way for Disneyland to reopen on a limited basis in April. The Centers for Disease Control and Prevention also said that people who have been fully vaccinated against Covid-19 can get safely inside the machine without masks, which increases reopening capacity.
FF Corp – Shares of the clothing and footwear company increased by almost 4% after Pivotal Research upgraded the share to buy from the ownership. The Wall Street firm said that FF currently has a favorable setup after its brand name North Face underwent a transition.
Coca-Cola – The beverage share rose 2.7% after RBC Capital Markets upgraded Coca-Cola to outperform the market. The firm said in a note that the company should benefit from increased mobility as Covid restrictions are eased around the world.