See the companies making headlines in midday trading. New York Community Bancorp — Shares of the regional bank closed virtually unchanged. Earlier in the session, the stock built on a sharp rise on Friday, when shares rose following an influx of insider buying. Bank of America also reiterated its neutral rating on Monday, noting that management has “the guidance to turn things around.” Diamondback Energy — Shares of the shale producer jumped 9.4% after announcing it would buy Endeavor Energy, the largest privately held natural resource company in the Permian Basin. The deal, which consists of both cash and shares, is valued at $26 billion including debt. CymaBay Therapeutics, Gilead — CymaBay shares soared 25.4% after Gilead agreed to buy the drug developer. The deal comes as Gilead, whose shares rose about 1% on Monday, plans to expand beyond HIV drugs. VF company. — Shares of the clothing maker rose 14% after Reuters reported that a member of the company’s founding family said it was backing activist investor Engaged Capital. Elsewhere, CEO Bracken Darrell announced the purchase of 65,000 shares of parent company North Face. Trimble — Shares rose 4.2% after the technology company reported better-than-expected fourth-quarter earnings, helping investors shrug off weaker-than-expected guidance for the current period. Monday.com – Shares of the Israeli software company fell 10.1% amid mixed guidance for the full year. Monday.com expects revenue of $926 million to $932 million, roughly in line with StreetAccount’s estimate. However, operating income is also between $58 million and $64 million. That’s below the $67.8 million estimate. Mohawk Industries — Shares jumped 6.6% after Deutsche Bank upgraded its rating on the flooring maker to neutral following the release of fourth-quarter earnings results. Analyst Joe Ahlersmeyer said he expects “risk rewards to have increased enough to support buying the stock,” citing demand set to turn around in the second half of the year. Rocket Lab – Shares rose 8.8% as Citi initiated coverage with a buy rating. Citi said liquidity conditions have improved and a recent deal with the Space Development Agency shows the government is strengthening its efforts. Teva Pharmaceutical – Shares rose 7.5% after Piper Sandler upgraded shares to overweight from neutral. Piper Sandler said Teva could see a recovery and expansion of its assets given its portfolio of brands and improved capital structure. Lowe’s — Home goods shares rose 3.4% after JPMorgan upgraded its rating from neutral to outperform. JPMorgan said Lowe’s should be bailed out as mortgage rates fall in tandem with an expected decline in interest rates. Marqeta – Shares of the credit card company rose 5.7% after Bank of America gave the stock a neutral buy rating. The bank said the recent correction in Marqeta shares was too strong. Large lots. The shares fell 28% after Loop Capital downgraded the stock to sell. Loop said the retailer is losing consumer awareness and is in worse financial shape. The company also reaffirmed its fourth-quarter same-store sales guidance. Nvidia – Shares rose slightly, at one point the chipmaker’s market capitalization rising to about $1.819 trillion. That’s slightly higher than Amazon’s $1.8 trillion valuation. — CNBC’s Samantha Subin and Sarah Min contributed reporting.
