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Check out the companies that are trending in intraday trading. Macy’s — Department store giant Macy’s rejected a $5.8 billion proposal to take the retailer private from Arkhouse Management and partner Brigade Capital Management, citing concerns about deal financing and valuation. As a result, the stock price rose 2%. Archer Daniels Midland — The food processing company’s stock price has fallen more than 22%, putting the stock on track for its second-worst day in history dating back to 1972. Archer Daniels Midland issues weak fourth-quarter profit guidance and appoints Vikram as chief financial officer. Mr. Luther is on leave pending an investigation into the company’s accounting practices. Elsewhere, Goldman Sachs downgraded the stock from “buy” to “neutral.” SolarEdge Technologies — The company’s stock rose more than 3% after SolarEdge Technologies announced plans to cut 16% of its workforce worldwide to reduce operating expenses. The layoffs will affect approximately 900 employees. B. Riley Financial — Shares fell as much as 8% after Bloomberg reported that the U.S. Securities and Exchange Commission was investigating the financial services firm’s transactions with customers involved in securities fraud. Spirit Airlines, JetBlue Airways — Airline stocks moved during Monday trading after the airlines announced Friday that they would appeal a federal judge’s ruling last week that blocked a planned merger. Spirit Airlines rose nearly 12% and JetBlue rose 1.4%. StoneCo — Shares of the Brazilian payments company rose more than 6% after Goldman Sachs upgraded it to a buy rating. “Given its excellent revenue and profit growth prospects, Stone is our preferred name in the Brazilian payments space,” the bank wrote. Gilead Sciences — The biopharmaceutical stock fell more than 10% after the company’s lung cancer drug Trodelvy failed to meet its primary endpoint of overall survival in a Phase 3 trial. The company said in a statement that it intends to identify patients with metastatic non-small cell lung cancer who may benefit from the drug. Union Pacific, Norfolk Southern — The railroad added 1.6% and 2.9%, respectively, following an above-market upgrade at Bernstein. The financial company cited attractive entry points and a constructive outlook for the next freight cycle as catalysts for change. J.B. Hunt — Transportation stocks rose 3.1% on him after UBS upgraded the stock to buy from neutral. The company said its “intermodal margin performance is likely at a trough” and that a strengthening freight cycle could lead to stock prices rising modestly this year, followed by larger gains in 2025. Ta. The stock rose about 4% after Northland Capital Markets downgraded the stock’s performance from buy to market perform, citing high valuations. Analyst Gus Richard said the slowdown in pricing and demand could weigh on the company’s revenue growth. SentinelOne — Cybersecurity stock rose 5% after receiving an upgrade from BTIG to Neutral Buy. The financial services company highlighted the likely growth potential of the security market this year as a catalyst. Vita Coco — Coconut His water company fell more than 5% after President William Blair downgraded the stock from outperform to market perform. The company said continuing shipping disputes in the Red Sea and Suez Canal would weigh on profits. —CNBC’s Michelle Fox, Alexander Harring, Ha-Kyung Kim, Tanaya Machel, Pia Shin and Samantha Subin contributed reporting.
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