Check out the companies making headlines in midday trading Old Dominion Freight Line — Shares of the less-than-truckload freight carrier rose more than 5% after being upgraded to outperform by BMO Capital. The analyst cited an improving backdrop for its business, plus an opportunity brought on by a more than 40% pullback in the stock over the past year. DoorDash — The food delivery stock rose 4% after Sequoia’s Alfred Lin bought more than 514,000 shares, valued at about $100 million. DoorDash shares are up about 14% over the past year, but the stock shed nearly 19% over the past month. Strategy — With the bitcoin proxy already under pressure from falling cryptocurrency prices, shares cratered more than 11% after the company cut its outlook and sold stock to establish as $1.44 billion reserve to grapple with the drop in bitcoin’s value. The company currently owns 650,000 bitcoins, which is valued at $54.84 billion. In October, Strategy anticipated bitcoin would trade around $150,000 at the end of the year. However, the cryptocurrency was last at around $84,585. The company’s new forecast anticipates bitcoin will be between $85,000 and $110,00 this year. Cryptocurrency-linked stocks — Shares of crypto stocks tumbled as bitcoin and ether fell sharply on Monday. Bitcoin was recently down more than 7%, while ether shed 9% of its value. Mara Holdings shed more than 5%. Coinbase traded nearly 6% lower, while Robinhood fell 5%. Bitcoin mining stock Cleanspark sunk about 4%. Walt Disney — Shares of the entertainment giant rose about 2% after “Zootopia 2” had a strong showing at the box office over the Thanksgiving weekend. The film tallied $158 million in ticket sales over the five-day holiday weekend. Coupang — Shares of the e-commerce company fell more than 5% after it revealed a data breach that impacted more than 33 million customers. The breach, which exposed customer names and other personal details, is believed to have been started in June, but was only discovered in mid-November. Joby Aviation — Shares of the electric aircraft developer fell nearly 5% after Goldman initiated the stock at a sell, with a $10 price target. While the firm said the company was in a good position, the analyst suspects the valuation is too rich since it’s unclear when the industry will gain its footing. Synopsys — The developer of design automation models and software rose around 4% after Nvidia invested $2 billion in Synopsys common stock at $414.79 per share as part of a broad strategic partnership. Leggett & Platt — Shares rose 15% after the furniture component manufacturer received an unsolicited, all-stock buyout proposal from Somnigroup International valued at $12 per share. Somnigroup shares rose less than 1% on the news. Wynn Resorts — The hotel and casino chain added almost 4% after Goldman Sachs included Wynn on its conviction buy list. Goldman said the company has a “best-in-class” Las Vegas business, while improvement in China’s Macao region can “drive transformative upside.” Moderna — The MRNA vaccine maker fell more than 6% after the FDA’s Center for Biologics Evaluation and Research Director Vinay Prasad issued an internal memo that linked Moderna’s Covid-19 vaccines to the death of 10 children, per the New York Times. — CNBC’s Liz Napolitano, Fred Imbert and Alex Harring contributed reporting Correction: “Zootopia” tallied $158 million in ticket sales over the five-day holiday weekend. An earlier version of this story misstated the tally.
Stocks making the biggest moves midday: SNPS, DIS, DASH, MSTR
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