Stocks making the biggest moves midday: ETSY, GOOS, HOOD, GOOS
Check out the companies making the biggest moves midday: Fortrea — The pharmaceutical trial conductor fell more than 9%. While a catalyst for the move wasn’t immediately clear, investors may be booking profits in a recently high-flying name. Shares rallied more than 10% on Friday and were up in 10 of the previous 11 trading days. Cinemark Holdings — Shares of the movie theater chain gained 4% following the release of ” The Conjuring: Last Rites ,” which Cinemark said was its second-biggest opening weekend of all time for a domestic horror film. The movie grossed $83 million in its opening weekend, according to data from Box Office Mojo . Etsy — The e-commerce name traded 6% higher, putting it on track for its fourth straight daily advance. Last week, the company announced it appointed Rafe Colburn as its chief product and technology officer, effective Sept. 25. Robinhood , AppLovin — The stock trading app and advertising technology company surged 14% and 10, respectively, after S & P Global said the two will join the S & P 500 index , effective before trading opens Sept. 22. Passive index funds must buy shares of companies added to benchmark indexes in order to mirror their performance. Robinhood will replace Caesars Entertainment , while AppLovin replaces MarketAxess Holdings . Nutanix , TransUnion — Cloud software stock Nutanix climbed 8% after S & P Global added it to the S & P MidCap 400 index, replacing Acadia Healthcare . Consumer credit reporting agency TransUnion gained 3% after being added to the benchmark. Summit Therapeutics — The biopharmaceutical company plunged 25% after results from a phase 3 trial showed Summit’s lung cancer drug, ivonescimab, resulted in fewer improvements in European and North American patients compared to their Chinese counterparts. Gold miners — Gold miners rose after the Financial Times reported that Tether, the world’s largest stablecoin company, held talks to invest in gold mining. The FT said Tether is eyeing investing in the entire gold supply chain, citing four people familiar with recent talks. Harmony Gold Mining added 3% along with Gold Fields and AngloGold Ashanti . Hecla Mining gained 12%. Canada Goose — The winter coat manufacturer popped 14% after TD Cowen upgraded its investment opinion to buy. As catalysts, analyst Oliver Chen cited the brand’s move to year-round lifestyle outerwear product alongside recent modernization efforts to cultivate a more “culturally relevant creative vision.” EchoStar — Shares of the telecommunications company surged 14% after it agreed to sell spectrum licenses to SpaceX for about $17 billion, or up to $8.5 billion in cash and up to $8.5 billion in stock. Fellow telecommunications stocks fell on the news, with T-Mobile , AT & T and Verizon shedding at least 1.7%. AST SpaceMobile slumped 8%. Veeva Systems — Shares of the cloud solutions stock added 2% after JPMorgan upgraded its rating to overweight from neutral. JPMorgan said it is optimistic on Veeva’s ability to win market share in the life sciences sector. Alibaba — The Chinese e-commerce company climbed 3% after leading a $100 million funding round for Chinese humanoid startup X Square Robot . X Square Chief Operating Officer Yang Qian told CNBC the deal brings Alibaba’s total investment in X Square to about 2 billion yuan, or $280 million. — CNBC’s Sean Conlon, Michelle Fox, Sarah Min and Alex Harring contributed reporting.
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