Super Micro Computer, Deckers Outdoor — The technology firm and athletic footwear designer respectively popped 27% and nearly 3% after S&P Dow Jones Indices announced Friday that the two stocks would be added to the S&P 500 on March 18. Super Micro Computer and Deckers Outdoor will replace Zions Bancorpation and Whirlpool, which will move to the S&P MidCap 400 Index.
Macy’s — Shares skyrocketed 16% after Arkhouse Management said it and Brigade Capital Management have raised their offer for the department store. The firms are now offering to acquire Macy’s stock they don’t already own for $24 per share, about 14% more than its previous offer of $21 per share. The new offer values the company at $6.6 billion.
Apple — Apple shed nearly 3% after European Union regulators fined the iPhone maker nearly $2 billion and said that it violated competition laws by preventing app developers from informing iOS users of alternative music subscription options.
Lyft — The ride-sharing platform added 6% after RBC upgraded the stock to an outperform rating from sector perform. The bank highlighted the company’s position within a “stable duopoly,” upcoming food delivery opportunities and optimistic 2024 EBITDA estimates.
Kyverna Therapeutics — Shares of the biopharmaceutical firm slid 1.8% after being initiated at an overweight rating at Wells Fargo, JPMorgan and Morgan Stanley. The latter cited the biopharma’s cell therapy for autoimmune disease as a catalyst.
Ferrari — Shares of the luxury automaker fell 2.7% after Citi downgraded them to sell from neutral, citing concerns that the company is overvalued.
Li Auto — U.S.-listed shares of the Chinese automaker slid more than 12% after the company reported disappointing February deliveries last week. It had soared more than 25% last week after reporting an earnings beat.
Dutch Bros — Shares moved 1.4% higher after the coffee chain was upgraded to overweight from neutral at Piper Sandler. The firm likes the equity raise Dutch Bros did in September, its same-store sales strength and the announcement it will test and implement its mobile order and pay this year.
American Airlines — The aircraft carrier stock slipped more than 3% after the firm placed orders for 260 new narrow-body jets, including 85 of Boeing’s 737 Max 10 planes. American also said it would convert orders for 30 of Boeing’s 737 Max 8 planes into its larger 737 Max 10 model.
Ford — The automaker rose 4.3% on the heels of strong February sales data compared with the same month a year prior. Ford’s gains were led by increases in sales of electric and hybrid vehicles.
