Acadia Healthcare — The healthcare stock surged approximately 7% after Khrom Capital, an investment firm, filed to encourage the company to explore strategic alternatives. Despite this midday boost, Acadia shares have seen a decline of 33% year-to-date.
Sarepta Therapeutics — This biotech company experienced a 6% rally. Although the exact catalyst for this movement wasn’t immediately clear, Sarepta shares have increased by over 20% in the past three months, indicating a positive trend.
Starbucks — The global coffee giant saw its shares rise by 2.6% following the announcement of a slight increase in dividend payouts. The company approved a raise in its quarterly cash dividend from 61 cents to 62 cents per share of outstanding common stock, reflecting its commitment to returning value to shareholders.
Occidental Petroleum and Berkshire Hathaway — Occidental’s stock fell by 6% even after Berkshire Hathaway revealed plans to acquire the oil company’s petrochemical division, OxyChem, for nearly $10 billion in cash. Meanwhile, Class B shares of Berkshire Hathaway dipped about 0.2%, showing a mixed reaction to the news.
Fair Isaac — The stock soared by 19% after the company introduced a new system that grants mortgage lenders direct access to FICO scores. In contrast, credit bureaus TransUnion and Equifax saw their shares drop by 12% and 9%, respectively, likely due to competitive pressures from Fair Isaac’s innovation.
Celanese — This materials company experienced a rise of over 5% after Citi upgraded its stock rating from neutral to buy. The bank noted that despite a sluggish macroeconomic environment, there are self-help measures in place that could support earnings growth into the next year, along with divestitures that may help improve the balance sheet.
Lithium Americas — Shares fell by 3.8% following a downgrade from Canaccord Genuity, which shifted its rating from speculative buy to sell. The firm cited the likely limited benefits of the lithium company’s recently revised loan agreement with the U.S. Department of Energy, stating that the recent stock price surge appears overdone and does not reflect the true valuation implications of the deal.
Bloom Energy — The energy company saw a decline of about 1.5% after Mizuho downgraded its rating from buy to neutral. The Wall Street firm highlighted that Bloom is constrained by its internal production capacity and suggested that the stock may be due for a pullback following an impressive 254% rally in the third quarter.
— Reporting contributed by CNBC’s Yun Li, Alex Harring, and Liz Napolitano.
