The Microsoft logo can be seen on a smartphone superimposed on the Activision Blizzard logo shown in this illustration taken on January 18, 2022.
Dado Ruvic | Reuters
Check out the companies making headlines during Friday afternoon trading.
Apple – Apple’s stock lost 2% on Friday after there were protests at the iPhone maker’s major Foxconn supplier in China earlier this week. Analysts and investors also feared that recent production halts in the country following a resurgence of Covid-19 could affect supply during the holiday season.
Activision Blizzard – Shares of the video game company fell more than 4% after Politico reported that the Federal Trade Commission is likely to file a lawsuit to block Microsoft$69 billion acquisition of Activision Blizzard.
Manchester United — Manchester United shares rose more than 16%, building on earlier gains this week following news that the The football team’s owners are considering a possible sale.
Coupa software – Shares of the software company rose 7, building on a 28.9% gain the following Wednesday reported Bloomberg that Vista Equity Partners is investigating an acquisition of Coupa.
canoe – The company’s share price for electric vehicles was up 6.5% after a Securities and Exchange Commission the filing revealed that CEO Tony Aquila had bought stock. He bought more than 9 million shares on Nov. 21 for $1.11 each, worth about $10 million. Half of those shares were bought outright, while AFV Partners, Aquila’s firm, bought the other half.
Grindr — The LGBTQ dating app fell 6%, continuing a week of losses following the Nov. 18 rally, which was the first day under the new ticker post-SPAC. It is now more than 40% from where it debuted and more than 85% from the high level of the first rally.
Lufax Holding – US-listed shares of the Chinese fintech firm plummeted 20% on Friday. Lufax reported disappointing earnings earlier this week, accompanied by downgrades and price target cuts at some Wall Street firms. JPMorgan lowered the value of shares from overweight to underweight on Friday and lowered the price target for the stock.
General — Shares of the generator maker fell 1% Friday after Argus Research downgraded the stock from buy to hold. Argus said in a note that supply chain issues will weigh on Generac’s performance “for the next several quarters” and that the stock deserves to trade at a worse multiple compared to its peers.
— CNBC’s Alex Harring, Jesse Pound, Yun Li, and Darla Mercado contributed reporting