See the companies making headlines in midday trading. Super Micro Computer, Deckers Outdoor — Shares of the technology company and athletic shoe maker jumped 19% and 3%, respectively, after the S&P Dow Jones announced Friday that the two stocks would be added to the S&P 500 index on March 18. and Deckers Outdoor will replace Zions Bancorpation and Whirlpool, which will move to the S&P MidCap 400. Macy’s — Shares soared 14% after Arkhouse Management and Brigade Capital Management raised their bid for the department store. The companies are now offering to buy shares of Macy’s they don’t already own for $24 per share, up about 14% from their previous offer of $21 per share. The new offer values the company at $6.6 billion. Apple – Apple fell nearly 3% after European Union regulators fined the iPhone maker nearly $2 billion and said it violated competition laws by preventing app developers from informing iOS users. about alternative music subscription options. Cryptocurrency stocks Coinbase and Microstrategy, which are tied to the price of Bitcoin, rose 11% and 24%, respectively, as the cryptocurrency neared its all-time high. However, miners resisted the rally as the upcoming Bitcoin halving – when mining companies’ earnings will be slashed – put pressure on investors. Marathon Digital shares fell 5%. Riot Platforms, Cipher Mining and CleanSpark fell 7%, 7% and 8% respectively, while Iris Energy lost 5%. DoorDash — Shares jumped 4% after RBC upgraded the food delivery company to outperform the sector. RBC noted the potential of the food delivery platform for new partnerships, in particular with Lyft. Lyft – The ride-sharing platform gained more than 4% after RBC upgraded the stock to outperform compared to the sector’s performance. The bank highlighted the company’s position within a “stable duopoly”, upcoming food delivery opportunities and optimistic EBITDA estimates for 2024. Kyverna Therapeutics — Shares of the biopharmaceutical company fell 0.2% after Wells Fargo, JPMorgan and Morgan Stanley received outperform ratings. The latter cited cell therapy for autoimmune diseases using biopharmaceuticals as a catalyst. Ferrari — Shares of the luxury car maker fell nearly 3% after Citi downgraded its rating to neutral, citing concerns that the company is overvalued. Li Auto – The Chinese automaker’s U.S.-listed shares fell nearly 14% after the company reported disappointing February deliveries last week. It rose more than 25% last week after reporting higher profits. Dutch Bros — Shares rose 3% after coffee chain Piper Sandler was upgraded to outperform from neutral. The firm is pleased with Dutch Bros’ capital raise in September, same-store sales growth and the announcement that it will test and roll out its mobile ordering and payment this year. American Airlines — Aircraft carrier shares fell more than 5% after the company placed orders for 260 new narrowbody aircraft, including 85 Boeing 737 Max 10 aircraft. American also said it would convert orders for 30 Boeing 737 Max 8 aircraft to a larger model. 737 Max 10. Ford – The automaker rose 2% after strong sales data for February compared with the same month a year earlier. Ford’s profit was driven by increased sales of electric and hybrid vehicles. — CNBC’s Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Machil, Yoon Lee, Jesse Pound and Samantha Subin contributed reporting.
