American Eagle, Berkshire, Spotify, Joby, CommScope: Stocks Making The Biggest Moves Today
Synopsis
U.S. equities surged in Monday’s midday trade, rebounding from the selloff on Friday triggered by the jobs report that showed a slowdown in new jobs during July.
U.S. equities surged in Monday’s midday trade, rebounding from the selloff on Friday triggered by the jobs report that showed a slowdown in new jobs during July, as well as a downward revision in May and June’s numbers by a cumulative 258,000 jobs.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 1.23% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100, surged 1.5%.
Here are the top stocks making the biggest moves in Monday’s midday trade:
American Eagle Outfitters Inc. (AEO)
American Eagle shares were up more than 17% at the time of writing after President Donald Trump posted a message of support for the company following actor Sydney Sweeney’s jeans advertisement.
AEO stock is down over 24% year-to-date.
Berkshire Hathaway Inc. (BRK)
Warren Buffett-led Berkshire’s shares fell over 2.5% in Monday’s midday trade after the company reported a 4% year-on-year decline in its operating profit to $11.16 billion in the second quarter, with cash of $344.1 billion on its balance sheet.
The Omaha-based company also reported a $3.8 billion impairment charge with respect to its investment in The Kraft Heinz Co. (KHC). The carrying value of its investment in Kraft Heinz stood at $8.4 billion at the end of the second quarter (Q2).
BRK stock is up 2% year-to-date.
Spotify Technology SA (SPOT)
Spotify shares surged nearly 7% on Monday after the music streaming service announced a hike in subscription prices across Europe, Asia Pacific, Latin America, Africa, and the Middle East. This follows a similar hike announced by Spotify in the U.S. in 2024.
SPOT stock is up 50% year-to-date.
Joby Aviation Inc. (JOBY)
Joby Aviation shares flew high in Monday’s midday trade, rising 22% after the company announced a deal of up to $125 million to acquire Blade Air Mobility Inc.’s (BLDE) passenger division.
JOBY stock is up 154% year-to-date.
CommScope Holding Company Inc. (COMM)
CommScope shares skyrocketed by nearly 80% in Monday’s midday trade after it agreed to sell its Connectivity and Cable Solutions business to electronics components maker Amphenol Corp. (APH) for $10.5 billion in cash.
COMM stock is up 170% year-to-date.
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