Here are the stocks that are making headlines during afternoon trading.
Apollo Global Management – Shares of the private equity firm returned previous earnings and fell by more than 4% after the company announced it would merge with Athene Holding in an all-stock transaction. The deal values Athene Holdings, a retirement services company, at approximately $ 11 billion. Shares of the company were up more than 6%.
General Electric – GE shares rose 5% during afternoon trading after a report said the industrial company is approaching a $ 30 billion deal to combine its aircraft leasing business with Irish AerCap Holdings, as it seeks to simplify operations. The Wall Street Journal reported this weekend that GE is close to a deal to merge GE Capital’s largest remaining unit, ever a major lending operation. The shares of AerCap were up 15%.
GameStop – Stocks of the video game retailer continued their volatile trading Monday, up nearly 40%. The company has announced that former Chewy CEO Ryan Cohen will lead a committee to shape GameStop’s transition to e-commerce.
Delta Air Lines, American Airlines, Southwest and United Airlines— Shares of the airlines rose Monday amid optimism about the Covid pandemic. The Senate passed a $ 1.9 trillion stimulus bill and the number of Covid vaccinations exceeded 3 million this weekend. Delta Air Lines shares rose by more than 3%. US stocks were up 5%, while Southwest was up more than 4%. United Airlines won more than 6%.
McAfee – Shares of the cybersecurity company rallied more than 14% in afternoon trading after news that it sold its business to privately held Symphony Technology Group for $ 4 billion in cash.
Disney – Shares of the media and theme parks are up about 5% after California relaxed Covid rules, paving the way for Disneyland to reopen on a limited basis in April. The Centers for Disease Control and Prevention also said on Monday that people fully vaccinated against Covid-19 can meet safely indoors without masks, further boosting hopes for reopening.
VF Corp – Shares of the apparel and shoe company were up nearly 4% after Pivotal Research upgraded the stock to buy off hold. The Wall Street firm said VF now has a favorable set-up after the North Face brand has gone through a transition.
Coca-Cola – Beverage stocks were up 2.7% after RBC Capital Markets upgraded Coca-Cola to outperform market performance. The company said in a note that the company should take advantage of increased mobility as Covid restrictions are relaxed around the world.