Check out the companies that make headlines for trading in the afternoon.
Energy Stocks-West Texas Intermediate crude oil futures were trading above $81 a barrel, prompting oil stocks to rise again on Monday. Shares of Diamondback Energy rose 3% and Halliburton rose 4.9%. Solar power has also grown, with SunRun and Enphase Energy up more than 6%.
Freeport-McMoRan — Equity rose 6% and was one of the biggest risers in the S&P 500. Stock prices skyrocketed amid recovery in the energy and industrial sectors and a rise in copper prices.
Retailers-apparel makers’ shares fell after cotton hit $1.16 a pound, a 10-year high on Friday. Gap decreased by 3.4% and Levi Strauss decreased by 2%. Ralph Lauren shares also fell.
Charter, Comcast—both cable stocks fell on Monday after Raymond James downgraded market performance. Comcast slipped more than 2.5% and Charter slipped less than 1%.
SoFi Technologies – Shares of online personal finance companies rose more than 10% after Morgan Stanley began reporting overvalued. The Wall Street company is bullish on SoFi’s student loan refinancing business, saying the potential acceptance of SoFi’s bank charter application is another potential catalyst to boost it.
Aspen Technology — an industrial software maker’s share price rose 9% after announcing the merger of two software businesses with Emerson Electric. The trading cash and stock price is around $160 per share.
CLEVELAND-Cliffs — Shares of Cleveland-Cliffs rose more than 5% after steelmakers announced they were acquiring scrap metal company Ferrous Processing & Trading. With this acquisition, Cleveland will enter the Cliff Scrap business.
DraftKings – Sports betting stakes increased by almost 4% after Citi introduced berating coverage. The Wall Street company said it was the “market leader” for betting.
Southwest Airlines – The airline’s stock price fell more than 1% after it canceled more than 2,000 flights over the weekend, blaming air traffic control issues, bad weather and a shortage of its staff.
Coinbase – Shares of the cryptocurrency exchange rose more than 5% as bitcoin extended its two-week rally to record highs. Coinbase stocks trade in parallel with cryptocurrency prices, as most of the revenue comes from trading fees.
— CNBC’s Yunlee, Maggie Fitzgerald, Jesse Pound and Hannah Miao contributed to the report
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