Stocks making the biggest moves midday: Nordstrom, Honda, MicroStrategy, Broadcom and more
Check out the companies making headlines in midday trading: Nordstrom — The department store shares dipped more than 1% after announcing it will become a private company. Nordstrom agreed to a buyout deal valued at roughly $6.25 billion from its founding family and Mexican department store El Puerto de Liverpool. Common shareholders will receive $24.25 in cash for each share of Nordstrom stock they hold. Novo Nordisk — Shares gained about 2%, reversing losses seen in the previous session. On Friday, the stock fell almost 18% after the Danish pharmaceutical giant’s experimental weight loss drug known as CagriSema reported disappointing results in a late-stage trial. Honda — The stock surged more than 11% following the announcement that the company has entered into merger talks with fellow Japanese automaker Nissan. The companies aim to end discussions in June 2025. Xerox — The document services provider popped 7% after announcing its acquisition of printer maker Lexmark. The deal, which is slated to close in the second half of 2025, is worth $1.5 billion. Despegar.com — Shares soared 32% after Prosus entered into a definitive agreement to buy the Argentina-based online travel booking platform for $19.50 per share. Prosus will pay $1.7 billion in the transaction, which is expected to close in the second quarter of 2025. Traws Pharma — The clinical-stage virology company surged nearly 200% after showing progress in the development of its treatment for H5N1 bird flu. Traws said tivoxavir marboxil showed safety and tolerability in the phase 1 trial, and it will begin a phase 2 study early next year. MicroStrategy — Shares dropped 5.4% after disclosing in a Monday filling that it had sold 1.3 million shares to buy an additional 5,262 bitcoins for around $106,662 per coin. Monday also marks MicroStrategy’s first session in the Nasdaq 100 . Broadcom — The semiconductor stock advanced 4%, resuming its December rally after a recent pullback. Shares have surged more than 41% so far this month, bringing its 2024 gain above 105%. — CNBC’s Sean Conlon, Yun Li and Christina Cheddar Berk and Tanaya Macheel contributed reporting. This post has been syndicated from a third-party source. View the original article here.
