Biggest Noon Movements: Biogen, Micron, Virgin Galactic

Check out the companies that made headlines during midday trading.

 

Biogen — Shares of Biogen fell more than 7% after Samsung denied a report in South Korean media that it was in talks to buy Biogen. On Wednesday, shares of the biotechnology company rose by 9.5% amid this message.

 

DiDi Global - Shares jumped 5.6%, despite the fact that the company reported a decrease in revenues in the third quarter by 1.7% and a loss of $ 4.7 billion. Investors bought into the fall in shares of a Chinese company that provides passenger transportation services, which fell by 8.2% on Wednesday. In addition, the company's shares have declined in 12 of the last 15 trading days.

 

RR Donnelley & Sons - Shares of the commercial printing house rose nearly 5% after the company received a non-binding offer to purchase $11 per share in cash. The unwanted offer came two weeks after R.R. Donnelley agreed to be bought by affiliates of Chatham Asset Management, its largest shareholder, for $10.85 per share.

 

Virgin Galactic - Shares of the space travel company rose 6% as Virgin Orbit, its satellite launch subsidiary, prepares to begin trading Thursday on the Nasdaq, following a merger with NextGen Acquisition Corp approved earlier this week.

 

Micron Technology - Shares of the semiconductor company fell 1.3% after the company warned of production delays due to the new closure of Covid production in Xi'an, China. Micron said in a blog post that additional restrictions from local authorities "may be increasingly difficult to mitigate."

 

Kanzhun — Shares of the job search company jumped 13% after Jefferies began covering stocks with a "buy" rating and a price benchmark of $44, a gain of about 38% from Wednesday's closing price.

 

ViacomCBS — Shares of the media giant rose 3.6% and were among the highest in the S&P 500 on Thursday. The growth followed a Financial Times report released Wednesday that U.S. video streams will spend $115 billion on content in 2022. Shares of Discovery rose 3%, while Netflix and Fox rose about 1%. Shares of Apple and Disney also rose slightly.