Brighthouse Financial — The insurance company saw a remarkable surge of 26% after Bloomberg News reported that a group led by Aquarian Holdings is in discussions to acquire Brighthouse Financial for between $65 to $70 per share. This news has sparked investor interest, driving the stock price upward.
Scholastic — In contrast, the publisher’s stock plummeted nearly 11%. Scholastic reported a loss of $2.52 per share for the fiscal first quarter, which is wider than the $2.13 loss per share recorded in the same period last year. This disappointing performance has raised concerns among investors.
Newmont and Orla Mining — Shares of these mining companies moved in opposite directions following Newmont’s announcement of selling its stake in Orla for $439 million. Newmont’s stock rose more than 4%, while Orla experienced a decline of about 7%. This divergence highlights the impact of strategic decisions on stock performance.
SolarEdge Technologies — The solar stock climbed 4%, adding to a substantial 24% surge for the week. This positive momentum follows the Federal Reserve’s decision to lower its benchmark rate, which typically benefits solar companies by allowing them to borrow at reduced costs.
FedEx — Shares jumped 3% after the company reported better-than-expected earnings for the fiscal first quarter. FedEx achieved an adjusted earnings of $3.83 per share on $22.24 billion in revenue, surpassing analysts’ forecasts of $3.59 per share and $21.66 billion in revenue.
Intel — The tech stock experienced a pullback of 2% after a significant rally that saw shares soar 22%. This surge was fueled by Nvidia’s announcement of a $5 billion investment in Intel to co-develop data center and PC chips. However, Citi downgraded Intel’s shares from neutral to sell, citing concerns that the stock is overvalued based on its foundry business prospects.
Lennar — Shares of the homebuilder dropped 3.7% after reporting third-quarter revenue that fell short of expectations, with $8.81 billion compared to the anticipated $9.00 billion. Despite this, earnings exceeded estimates, coming in at $2.29 per share against a consensus of $2.10.
Apple — JPMorgan raised Apple’s price target from $255 to $280, resulting in a 3% boost in the stock. The firm noted strong demand for Apple’s new iPhones, which launched recently, based on early sales data from Asia.
Klaviyo — Shares rose over 4% following an upgrade from Morgan Stanley, which moved the email platform company to overweight from equal weight. The firm highlighted Klaviyo’s expanded market opportunities that could support sustained growth.
— CNBC’s Alex Harring, Yun Li, Sean Conlon, Michelle Fox, Fred Imbert, and Sarah Min contributed reporting.
