Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.
Prakash Singh | AFP | Getty Images
Check out the companies making headlines midday Monday:
Las Vegas Sands, Kohl’s, Gap, MGM Resorts — These stocks all rose sharply as hopes of a broader reopening of the U.S. economy increased with some states easing stay-at-home orders and allowing some businesses to resume operations. Las Vegas Sands and Kohl’s both gained over 5% while Gap advanced 12.9%. MGM Resorts closed 9.3% higher.
Twitter — Twitter gained more than 4% after Mizuho upgraded the social media company to neutral from underperform, saying the coronavirus impact is already reflected in the stock price. Twitter is set to report its quarterly earnings on Thursday.
JPMorgan Chase, Goldman Sachs, Citigroup, Bank of America, Wells Fargo — Shares of bank stocks rose as interest rates got a boost from investors ditching safe-haven assets in hopes of the economy reopening. JPMorgan rose 4.3% and Goldman Sachs gained about 3.7%. Citi jumped 8% and Bank of America ticked 5.8% higher. Wells Fargo was up more than 5%.
Caterpillar — Caterpillar dropped as much as 3.7% on Monday after Morgan Stanley downgraded the machinery stock to underweight from equal-weight. The bank said in a note to clients that a multi-year downturn in non-residential construction could hurt the stock. The