Twitter, AMD, Deere, Verizon, and more

The Twitter logo is displayed on the smartphone screen on April 14, 2021.

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Check out which companies are making the headlines in midday trading.

Twitter — Shares of the social media company rose 4% after news it wanted to strike a takeover deal with Tesla founder Elon Musk ahead of its quarterly earnings Thursday, with reports that it may come as early as Monday.

Penn National Gaming – Shares of the casino and online betting company are up 3% after the upgrade from Morgan Stanley. The investment firm raised its rating to overweight, saying that the recent decline in Penn National stock made it an attractive valuation and that the company had a better strategy for winning sports betting clients than its competitors.

Oil Stocks – Energy stocks fell amid renewed fears of a global slowdown as the country grapples with the Covid outbreak. Chevron and Exxon Mobil shares fell 3.8 percent and 5.7 percent, respectively.

Advanced Micro Devices, Marvell — AMD stock is up 1.7% after Raymond James upgraded it to outperform and said its stock could rise 80%. Raymond James also upgraded Marvell to market performance, sending shares up 2.3%.

Verizon — The stock fell nearly 4% after Goldman Sachs cut Verizon’s rating to neutral from buy at valuation, following a massive loss in subscribers for the telecom giant. Goldman said Verizon is in a position to remain the wireless leader in the 5G cycle, but it also expects a slowdown in revenue growth.

Snowflake – Stocks rose more than 7% after Wolfe Research started coverage of the cloud data company with an outperforming rating. The analyst said the stock, which is trading at “Black Friday prices”, could get a boost on the upcoming Analysts Day. Wolf expects to unveil a new product, as well as updated guidance on how Snow can reach $10 billion in annual product revenue by fiscal year 2029.

ThredUp – Reselling shares fell 1.8% after the rating was downgraded from buy to neutral by Goldman Sachs, which indicated near-term headwinds.

Activision Blizzard — The video game publisher’s stock is down 1% after it missed analyst estimates in the first quarter. Activision Blizzard has cited disappointing demand for “Call of Duty: Warzone” among the poor earnings contributors.

Derry – Shares fell more than 7% after Bank of America downgraded the stock to neutral from buy. Analysts said they are seeing a limited rise in agricultural machinery stocks, which could be hurt by higher fertilizer prices amid the ongoing conflict in Ukraine.

GoDaddy — The stock rose 3.5% after Piper Sandler upgraded the company to overweight from neutral, calling it a top defensive idea. The company also said that the website domain company has strong free cash flow potential, and it likes GoDaddy’s $3 billion capital return strategy for the next three years.

Formula 1 – Stocks fell 1% after Citi lowered its rating to neutral and said there was little upside to gain.

CNBC’s Sarah Main, Tanya Machel and Jesse Pound contributed reporting.

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