Trainers have Orca killer whales perform for the crowd during a show at the animal theme park SeaWorld in San Diego. (File photo).
Mike Blake | Reuters
Check out the companies making headlines in midday trading.
SeaWorld Entertainment — SeaWorld shares popped 2% after a Credit Suisse analyst upgraded them to outperform from neutral. The analyst also hiked his price target on the stock to $30 per share from $13 per share, implying a 46% upside from Monday’s close. The analyst noted three key headwinds for SeaWorld “have either changed or are now fully priced in, making us more constructive on a stock with relatively low expectations.”
Vir Biotechnology – Shares of Vir Boitechnology climbed 6.1% after the biotech company said its experimental Covid-19 antibody treatment in partnership with GlaxoSmithKline will enter phase-3 trials, with results coming possibly before the end of the year. The company said interim trial results may be available as early as the end of 2020.
Social Capital Hedosophia Holdings Corp III – Shares of Social Capital Hedosophia Holdings Corp III, Chamath Palihapitiya’s special purpose acquisition company, fell 13.5% after the billionaire investor announced the target company to take public – health care startup Clover Health. The deal values Clover at $3.7 billion and includes up to $1.2 billion in cash proceeds, $400 million of which will be provided through a Palihapitiya-led private investment in the public entity.
Sonos, Logitech — Shares of the device companies fell after Bloomberg News reported that Apple yanked third-party audio products from its online stores and was doing the same at retail locations. Sonos’ stock dropped 7%, while Logitech lost 6.1%.
Boeing — Shares of the aircraft maker dropped 6.8% lower after slashing its 10-year forecast for new aircraft demand by 11% from a year ago. Boeing said the world’s