Stocks with Big Moves at Midday
- Several major stocks are showcasing significant movements at midday trading.
- Stocks of companies like JetBlue Airways, Monday.com, Hawaiian Electric Industries, and KeyBank are among those with large movements.
- Investors are closely watching the stock market as these companies experience notable changes.
In midday trading on August 12, 2024, JetBlue Airways experienced a significant decline, with shares plummeting 21% following the airline's announcement of a $400 million sale of five-year convertible senior notes. The downturn was compounded by credit rating downgrades from major agencies including S&P Global Ratings, Moody's Investors Service, and Fitch Ratings, raising concerns about the airline's financial stability. Hawaiian Electric also faced challenges, reporting a staggering consolidated net loss of $1.3 billion, or $11.74 per share, for the second quarter. This loss starkly contrasts with the previous year's net income of $55.1 million, primarily due to charges related to goodwill impairment, highlighting the company's ongoing financial difficulties. On a more positive note, KeyCorp, a regional bank based in Cleveland, saw its shares surge by 13% after The Bank of Nova Scotia announced a minority investment in the company. This development positioned KeyCorp as the top performer in the S&P 500 index for the day. Similarly, Monday.com reported better-than-expected second-quarter results, leading to a 12% increase in its stock price, reaching a new 52-week high. Other notable movements included a 7% drop in Marathon Digital's shares following a $250 million private debt offering, while Robinhood's stock rose 2.5% after an upgrade from Piper Sandler, which anticipates growth in retail trading. Par Technology also saw a modest increase of 1.8% after receiving a buy rating from Jefferies.