A customer enters a TD Ameritrade Holding Corp. location in San Francisco, California.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines midday Monday:
TD Ameritrade, Charles Schwab — TD Ameritrade shares jumped nearly 7% after the company confirmed it will be acquired by rival Charles Schwab for $26 billion in an all-stock deal. CNBC first reported on the deal last week. Charles Schwab shares climbed 1.8%.
Tiffany — The jeweler’s stock rose 6.1% after LVMH confirmed it will buy Tiffany for $16.2 billion, or $135 a share in cash. The deal, which is expected to close in the middle of 2020, represents a 7.5% premium from Friday’s close of $125.51. Tiffany shares traded around $133.
eBay — Shares of eBay climbed 1.2% after the company announced plans to sell StubHub for $4.05 billion in cash to Viagogo, a Swiss ticket vendor. The sale is expected to close by the end of next year’s first quarter.
Nvidia — An analyst at Morgan Stanley upgraded the chipmaker to overweight from equal weight, citing a “return to solid growth” for Nvidia’s gaming and data center businesses. Nvidia shares went up 4.4%.
Hasbro — Hasbro was upgraded to buy from neutral by an analyst at UBS who said the company’s Black Friday sales could get a boost from “Frozen II” merchandise. Hasbro shares gained 2.9%.
Dick’s Sporting Goods — Dick’s Sporting Goods shares were upgraded to buy from neutral by an analyst at Bank of America, sending the stock up 1%. The analyst said the company’s same-store sales momentum could gain steam given “the success of its premium footwear decks.”
The Medicines Co. — Shares of the biopharmaceutical company surged more than 22% on news that Medicines is being bought by Novartis for $7 billion, or $85 per share. The deal’s valuation represents a 24% premium from Medicine’s previous close of $68.55 per share.
Uber Technologies — Uber shares fell as much as 4% after a London regulator stripped the ride-hailing giant’s license to operate in the city. Transport for London, the regulator, said Uber has shown a “pattern of failures” that risked passenger safety. Uber said it would appeal. The stock traded down 1.9% in midday.
Funko — The toymaker’s stock dropped more than 6% after an analyst at Piper Jaffray cut her price target on Funko shares to $24 from $30. Funko traded around $14 per share on Monday. “With a new CFO at the helm who brings a lot of discipline & process, we do believe the company is taking the time to fortify the several emerging revenue streams. As such, we are resetting our estimates,” the analyst said.
