In this article, we take a look at five stocks that are moving today. If you want to take a look at some more stocks that are trending and the latest market situation, go to the 10 Market-Moving Stocks to Watch on Monday.
5. Moderna, Inc. (NASDAQ:MRNA) is up 8.15% as of 10:31 AM ET after the company revealed that it had finalized the data in favor of the Covid-19 vaccine for children younger than six years. Moderna, Inc. (NASDAQ:MRNA) shared that the data will be up for review by FDA in the next month. Moderna, Inc.’s (NASDAQ:MRNA) chief medical officer stated that the company is confident that they would be successful in this endeavor as the safety profile seen in the vaccine is reassuring.
Of the 924 hedge funds in Insider Monkey’s database, 43 hedge funds held a position in Moderna, Inc. (NASDAQ:MRNA) as of Q4 2021, down from 49 in the preceding quarter.
4. HSBC Holdings plc (NYSE:HSBC) has declined 0.90% as of 10:42 AM ET after Reuters reported that the British bank is under pressure from Ping An to break itself up. Ping An, a China-based insurance company, first took an ownership interest in HSBC Holdings plc (NYSE:HSBC) in 2017. The financial giant has now become HSBC Holdings plc’s (NYSE:HSBC) largest shareholder, with a stake worth over 8%. Ping An has also presented the breakup plan to HSBC Holdings plc’s (NYSE:HSBC) board of directors.
At the end of Q4 2021, 10 hedge funds reported owning a stake in HSBC Holdings plc (NYSE:HSBC).
3. Spirit Airlines, Inc. (NYSE:SAVE) has tumbled 9.47% as of 10:56 AM ET after the company declined JetBlue’s $3.6 billion takeover bid. Spirit Airlines, Inc. (NYSE:SAVE) shared that it still thinks that the $2.9 billion Frontier Airlines’ bid is the best option to maximize the company’s value. In a letter issued on Monday, Spirit Airlines, Inc. (NYSE:SAVE) stated that “JetBlue’s offer is not reasonably capable of being consummated” and involved a high closing risk.
Spirit Airlines, Inc. (NYSE:SAVE) was held by 19 hedge funds at the end of Q4 2021, down from 21 in the preceding quarter.
2. BlueCity Holdings Limited (NASDAQ:BLCT) has soared 3.97% as of 11:13 AM ET after the company revealed that it has entered into a merger agreement with a buyer group. The all-cash transaction is representative of an equity value of $60 million of BlueCity Holdings Limited’s (NASDAQ:BLCT) outstanding shares. This translates into a purchase price of $3.2 per ordinary share. Moreover, the per ADS price of $1.60 reflects a premium of 16.8% to BlueCity Holdings Limited (NASDAQ:BLCT) stock’s last closing price. The deal is expected to be completed in the second half of the year.
1. Align Technology, Inc. (NASDAQ:ALGN) has climbed 4.48% as of 11:33 AM ET after the company announced a $200 million stock repurchase program. The medical device company would receive an estimated 552,000 shares initially as per the terms of the agreement with Citibank. The deal is expected to be funded by Align Technology, Inc.’s (NASDAQ:ALGN) cash on hand and will be closed by July 26, 2022. Align Technology, Inc.’s (NASDAQ:ALGN) CFO stated that the program represents the strength of the company’s “balance sheet and cash flow generation.”
Out of the 924 hedge funds tracked by Insider Monkey, 51 held a stake in Align Technology, Inc. (NASDAQ:ALGN) at the end of Q4 2021, up from 49 in the previous quarter.
You can also take a peek at the Top 9 Stocks Billionaire Larry Robbins Just Added to His Portfolio and 10 Best Value ETFs to Invest in Now.
