Stocks making the biggest moves midday: PacWest, DraftKings, Pfizer, Foot Locker and more

cnbc.com:

In this article

Check out the companies making headlines in midday trading.

PacWest Bancorp — Shares rose 14%. The closely followed regional bank sold around $2.6 billion worth of construction loans to a subsidiary of Kennedy-Wilson Holdings.

DraftKings — Shares of the sports gambling platform soared 8% in midday trading. Earlier on Monday, UBS upgraded the stock to buy from neutral on strong growth in new states.

Zions Bancorporation — The bank stock jumped 6.7% after Hovde Group initiated coverage of Zions at outperform, with a $40 price target, according to FactSet. That's about 49% upside from where shares closed on Friday.

Pfizer — Pfizer shares popped more than 3% after a peer-reviewed study showed an oral drug from Pfizer for weight loss showed similar and faster results than competitor Novo Nordisk's Ozempic.

Meta Platforms — The social media company rose 1.6% to hit a 52-week high even after news that the firm has been fined a record 1.2 billion euro ($1.3 billion) by European privacy regulators over the transfer of EU user data to the U.S. The stock has rallied about 106% this year, buoyed by investor optimism around the artificial intelligence space.

Nike, Foot Locker — Nike shares declined 2.7% Monday. Citi added a negative catalyst watch on the athletic apparel company in a Monday note. The firm said Foot Locker's worse-than-expected earnings report last week signals difficulties ahead for Nike. Meanwhile, Foot Locker shares dropped 6%.

Micron Technology — The chip stock shed 2.5% after China's Cyberspace Administration barred operators of «critical information infrastructure» in that country from purchasing products from Micron. Beijing said the company poses a «major security risk.»

Catalent — Catalent