Shares making the largest strikes noon: American Airways, Halliburton, RH, AMC & extra
Check out the companies making headlines midday Monday:
Halliburton — Shares of the oil field producer popped 2% after the company reported better-than-expected earnings for the previous quarter. Halliburton earned 11 cents per share, topping a Refinitiv estimate 8 cents per share. Revenue, however, missed analyst expectations.
American Airlines — American Airlines shares rose more than 2% on news the airline is planning to resume flights with Boeing’s 737 Max jet in December. The plan is pending recertification of the aircraft by the Federal Aviation Administration.
FedEx, UPS — FedEx and UPS rose 2.2% and 1%, respectively, after The Wall Street Journal reported the two companies have told their shippers that their holiday shipping capacity is nearly at its limit.
CVS — Shares of the drug store and pharmacy company ticked up 1% after CVS said it is planning to hire 15,000 employees to prepare for an expected rise in Covid-19 and flu cases throughout the fall and winter. More than half of the new workers will be full-time and part-time licensed pharmacy technicians who will be able to administer coronavirus tests.
AMC — The movie theater stock soared more than 22% after New York Gov. Andrew Cuomo announced that theaters in most of New York could reopen on Oct. 23. The new regulation does not include New York City. AMC CEO Adam Aron told CNBC that the move was “a monumental step forward” for the industry.
VF Corp — Shares of VF Corp slipped 1% after Bank of America downgraded the stock to underweight from neutral. The firm said in a note that weakness for the Van’s footwear brand would likely hurt the stock.
RH — An analyst at Jefferies initiated coverage of the home-furnishing company with an underperform rating, noting: “Management’s pursuit of the ‘path less traveled’ has largely worked the past few years, but we see inherent execution risk in the go-forward strategy.”
American Equity Investment Life – Shares dropped more than 16% after the life insurance company announced a partnership with Brookfield Asset Management for the reinsurance of $5 billion of existing liabilities. Brookfield will acquire a 19.9% ownership interest in the common shares of American Equity. American Equity rejected Athene and MassMutual’s takeover proposal, saying it undervalues the company.
—CNBC’s Yun Li, Maggie Fitzgerald, Jesse Pound and Michael Bloom contributed to this report.