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Stocks making the biggest moves midday: Franklin Resources, Harley-Davidson, Roblox, GameStop and more

Stocks making the biggest moves midday: Franklin Resources, Harley-Davidson, Roblox, GameStop and more

01 Nov 2021

A mechanic works on a motorcycle at a Harley-Davidson showroom and repair shop in Lindon, Utah, on Monday, April 19, 2021.

George Frey | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Franklin Resources — Shares of the asset manager jumped 11.6% after the company reported better-than-expected quarterly earnings. Franklin Resources also announced that it agreed to acquire private equity firm Lexington Partners for $1.75 billion.

Align Technology — The clear braces maker popped nearly 6% after the company announced a $100 million accelerated share repurchase program. The stock is up about 23% this year.

Moderna — Shares dropped more than 2% after the drugmaker said the Food and Drug Administration needs more time to review its Covid-19 vaccine for 12- to 17-year-olds before granting emergency use authorization. The agency is specifically studying the risk of myocarditis, or inflammation of the heart muscle, in teens. Moderna said the review may take until January to conclude.

PG&E Corp — The gas and electric company’s shares fell 1.6% after it reported third-quarter results that missed analysts’ expectations. PG&E recorded 24 cents per share, compared with estimates of 26 cents.

Coinbase — Shares of the cryptocurrency exchange jumped 3.6% after competing exchange Binance temporarily halted all crypto withdrawals due to a large backlog.

Aon — The provider of risk mitigation products fell 4% after Wells Fargo Securities downgraded the stock to equal weight from overweight, citing fourth-quarter expenses despite recent strength and an increased price target by the analysts.

Harley-Davidson — Shares of the motorcycle company jumped 9% after the U.S. and the European Union reached an agreement to weaken dueling tariffs on steel, aluminum and motorcycle imports. Wedbush Securities said in a note that the news “eliminates a significant headwind that the company has been dealing with through most of this year.”

Spotify — Shares gained nearly 4% after the streaming platform was named a top pick at Morgan Stanley. Spotify also received an upgrade from Bernstein to market perform from underperform.

Deere — The machinery maker jumped about 4.8% after it reached a tentative six-year deal with workers on strike that would give them higher raises and bonuses. The deal is set to be put to a vote Tuesday.

CrowdStrike  — Shares of the cloud computing company fell 4.4% after BTIG downgraded the stock to neutral from buy, citing rising competition and potentially slowing growth.

GameStop — The stock rose 9% after the company announced Chief Operating Officer Jenna Owens has stepped down from her role after less than a year in the position.

Roblox — Shares of the gaming company ticked 3.4% lower in midday trading following a three-day outage on the platform that began Thursday. The online gaming site is now back online. “We are sorry for the length of time it took us to restore service,” David Baszucki, Roblox’s founder and CEO, said in a blog post Sunday.

 — CNBC’s Yun Li, Hannah Miao, Jesse Pound and Maggie Fitzgerald contributed to this report.