The Carnival Cruise Ship "Carnival Vista" sails out to sea in the Port of Miami entrance known as Government Cut in Miami, Florida on June 2, 2018.
RHONA WISE | AFP | Getty Images
Check out the companies that are making the headlines in midday trading.
Carnival – Shares rose 3.4% despite Covid concerns as the company announced it would make a profit in the second quarter of 2022. Carnival said advance bookings for the second half of 2022 and 2023 are at a high level and at high prices compared to 2019.
Devon, Diamondback, Exxon Mobil – Energy stocks fell broadly on Monday as Omicron concerns weighed on oil prices. Devon Energy was down 2.4%. Diamondback and Exxon lost 3.2% and 1.5%, respectively.
Oracle – Shares fell 5.2% after it was announced that enterprise software maker will acquire Cerner, provider of medical recording technology, in a cash transaction of $ 95 per share, equating to an equity value of about 28 . Equivalent to $ 3 billion. Cerner stock, which was up nearly 13% on Friday following initial reports on the transaction, rose less than 1% on Monday. The takeover is the largest for Oracle to date.
Canopy Growth – The cannabis producer's stocks fell 8.8% after Piper Sandler downgraded the stock from neutral to underweight, amid pressure on sales trends. Wells Fargo started coverage of the stock last week with an underweight rating, calling the company overvalued.
Sunrun – The privately held solar company’s shares fell 8.2% on uncertainty about the Build Back Better bill and after KeyBanc downgraded the stock to a sector weighting. The company's call center is focused on the proposed decision by California regulators to cut solar incentives that are essential to the growth of the industry. Given Sunrun's exposure to the California market, KeyBanc said the valuation implications are "too far-reaching to be convenient".
AT&T – Shares in the telecommunications giant rose 1.7% amid a sell-off in the broad market following an upgrade from Barclays. The Wall Street firm raised its AT&T rating from neutral to overweight and said telecom stock deserved to fill the valuation gap with some of its competitors.
Verso – Verso's shares rose nearly 35% after the Ohio-based specialty, graphic and packaging paper maker announced it would be acquired by Swedish paper maker BillerudKorsnas for $ 27 a share in cash.
– CNBC's Yun Li, Tanaya Macheel, Jesse Pound and Pippa Stevens contributed to the coverage