Market Insider

Stocks making the biggest moves midday: Tech Data, US Steel, Apache, Walmart & more

An oil tanker is anchored near the Port of Long Beach, California, U.S.
Tim Rue | Bloomberg | Getty Images

Check out the companies making headlines in midday trading:

Walmart, Target, TJX Companies – Shares of Walmart and TJX Companies each rose slightly on Black Friday as U.S. shoppers hunted for deals, with online sales especially surging. Adobe Analytics estimates the day will see $7.5 billion in online sales, a 20.5% increase for the annual event from last year. Target shares slipped 0.7%, despite climbing earlier in the day.

Apache – Shares of the production and exploration company shed 4.1% as WTI crude oil futures fell more than $1.50. Schlumberger, Cimarex, Marathon Oil and Halliburton were among the other energy names down more than 1%.

Tech Data – Shares of the technology distributor jumped 12.3% after Tech Data announced it would be acquired for $145 a share by Apollo Global Management, in a deal that values the company at $5.14 billion. The deal was better than Apollo's previous offer of $130 a share, as CNBC reported that Warren Buffett's Berkshire Hatahaway made a bid last week for $140 a share.

Fibrogen – The biotechnology company's stock rose 4.3% after SVB Leerink highlighted Fibrogen in a note to investors. The firm highlighted that a Fibrogen drug will be priced higher than expected in China, likely adding $5 a share in future earnings for the company.

U.S. Steel – Shares of U.S. Steel dropped 5.8% after a key mill in Gary, Indiana reportedly was shut down after a water pipe broke, flooding part of the plant.