Check out the companies that are trending in intraday trading. Abercrombie & Fitch – The teen apparel retailer’s stock rose nearly 8% after JPMorgan added the company to its Positive Catalyst Watchlist. Analyst Matthew Vos said the company’s brands, including Hollister, have shown momentum during the recent back-to-school season, and raised his price target and third-quarter earnings forecast. Spirit Airlines, JetBlue Airways — Ultra-low-cost carrier Spirit plunges 26% after a Wall Street Journal report that it may file for bankruptcy following a failed merger with fellow airline JetBlue. did. JetBlue shares rose more than 15% on the news. Rivian Automotive — Sales fell nearly 5% after the electric vehicle maker lowered its 2024 annual production outlook from 47,000 to 49,000 vehicles, citing supply shortages. The company previously expected production to be 57,000 units. Vistra Corp – Shares of the utility company, which overtook Nvidia as the S&P 500’s top gainer this year, are up about 5% on recent gains. Vistra stock has risen in 18 of the past 19 trading sessions. Summit Therapeutics – The biopharmaceutical company rose 2%. The Food and Drug Administration has granted Summit’s cancer drug ivonecicimab priority designation for use in treating patients. Ubisoft Entertainment — French video game publisher Ubisoft’s stock price soared after Bloomberg News reported that Ubisoft’s minority shareholder Tencent and the company’s founder Guillemot family are considering a possible acquisition of the company. has soared more than 30%. Silvercrest Metals — Shares soared nearly 12% after the precious metals maker announced Cool Mining would acquire Silvercrest for an implied stock value of about $1.7 billion. Cool stocks fell 7%. Zim Integrated Shipping Services — Shares fell more than 13% after U.S. longshoremen and the American Maritime Alliance reached a tentative agreement to end port strikes. Other international shipping stocks, including Danish shipping giant Maersk, fell as well. CVS Health — The company’s stock rose 3.3%. CNBC reported earlier this week, citing people familiar with the matter, that the company’s board is working with advisers to begin a strategic review of the business. CVS, which is grappling with higher-than-expected health care costs, particularly in its insurance division, is considering splitting its retail pharmacy and insurance divisions, a major shift from the company’s long-standing strategy. —CNBC’s Sean Conlon, Ha-Kyung Kim, Christina Cheddarburk and Lisa Kai-Lai Han contributed reporting.
