Stocks making the biggest moves midday: Global Payments, Moderna, Activision Blizzard and more
Check out the companies making headlines in midday trading Monday.
Global Payments — Shares of the company sank 9.2% despite a better-than-expected earnings report. The payments technology company reported adjusted quarterly profit of $2.07 per share, beating a Refinitiv forecast by 3 cents. Revenue also topped analyst forecasts. The company also issued full-year revenue guidance that was roughly in line with analyst expectations.
Vertex Pharmaceuticals — The biotech company's shares fell 4.1% after the Food and Drug Administration placed a study of Vertex's treatment for type 1 diabetes on hold, after determining there is insufficient information to support dose escalation with the product.
Moderna – Shares of Moderna jumped 5.7% after the company said its Covid-19 vaccine for children under 6 years old will be ready for review in June by a Food and Drug Administration panel. Moderna applied for emergency use authorization for the treatment last week.
Moody's Corp — The risk assessment firm dropped 4.9% after the company cut its full-year earnings guidance. The company now expects full-year earnings to range between $10.75 and $11.25 per share excluding items. Previous guidance projected between $12.40 and $12.90 per share. Analysts estimated $11.92, according to FactSet.
Align Technology — Shares of the medical device maker jumped 6.5% after the company announced a $200 million accelerated stock repurchase program.
EPAM Systems — Shares of the software company EPAM Systems gained 8.7% after Piper Sandler upgraded them to overweight from neutral, citing its program checks.
Johnson Controls — Shares rose 2.8% after Bank of America initiated coverage of the HVAC producer with a buy rating. Johnson Controls International has 42% upside from here because of the trend toward decarbonization, specifically in the construction of smart buildings, according to Bank of America.
Activision Blizzard — Shares of Activision Blizzard rose 3.3% after Warren Buffett said Berkshire Hathaway has been upping its stake in the video game publisher and owns about 9.5% as it bets that Microsoft will close its proposed acquisition of the company.
Amazon — Amazon lost 3% before turning slightly positive, following sharp losses from last week, when it reported a big net loss for the most-recent quarter and a issued bleak financial forecast. Wedbush Securities also removed the stock from its Best Ideas list.
— CNBC's Sarah Min, Samantha Subin and Hannah Miao contributed reporting.