Market Insider

A pedestrian walks past Biogen Inc. headquarters in Cambridge, Massachusetts, on Monday, June 7, 2021.
Adam Glanzman | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Biogen — Shares of Biogen slid more than 7% after Samsung denied a report in South Korean media that it was in talks to buy Biogen. The biotechnology stock had surged 9.5% on Wednesday on the report.

DiDi Global — The stock jumped 5.6% despite the company reporting a 1.7% decline in third-quarter revenue and a loss of $4.7 billion. Investors bought the dip in the Chinese ride-hailing company, which slid 8.2% Wednesday. It has also seen declines in 12 of the last 15 trading days.

RR Donnelley & Sons — The commercial printing stock rose nearly 5% after the company received a non-binding acquisition proposal at $11 per share in cash. The unsolicited offer comes two weeks after R.R. Donnelley agreed to be bought by affiliates of Chatham Asset Management, its largest shareholder, for $10.85 per share.

Virgin Galactic — Shares of the space travel company rose 6% as Virgin Orbit, its satellite-launching spin-off, geared up to begin trading Thursday on the Nasdaq, following an approved merger earlier this week with the blank-check company NextGen Acquisition Corp.

Micron Technology — The semiconductor stock dipped 1.3% after the company warned of production delays due to new Covid shutdowns in Xi’an, China. Micron said in a blog post that additional restrictions by the local government “may be increasingly difficult to mitigate.”

Kanzhun — The platform for job seekers saw its shares jump 13% after Jefferies initiated coverage of the stock with a buy rating and a $44 price target, implying upside of about 38% from its closing price Wednesday.

ViacomCBS — Shares of the media giant rose 3.6% and were among the top gainers in the S&P 500 on Thursday. The rise followed a Financial Times report Wednesday that U.S. video streamers are set to spend $115 billion on content in 2022. Discovery shares gained 3%, while Netflix and Fox rose about 1%. Apple and Disney were slightly higher as well.

 — CNBC’s Hannah Miao and Jesse Pound contributed reporting

Articles You May Like

Gary Gensler says he was ‘proud to serve’ as SEC chair, defends his approach to crypto regulation
Greenlight’s David Einhorn says the markets are broken and getting worse
Trump is the most pro-stock market president in history, Wharton’s Jeremy Siegel says
David Einhorn to speak as the priciest market in decades gets even pricier postelection
Processed food stocks fall as investors brace for increased scrutiny under Trump, RFK Jr.