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Midday Stock Movers: Casa Systems, BofA, Twitter
Published Apr 18, 2022 11:37AM ET
Updated Apr 18, 2022 11:47AM ET
© Reuters.
By Sam Boughedda
Investing.com -- U.S. stocks are down Monday, with the Nasdaq trading approximately half a percent lower. Here are the midday movers on Monday, April 18th.
Casa Systems Inc (NASDAQ:CASA) stock has surged 72% on news that it has been awarded a multi-year contract from Verizon (NYSE:VZ) for its 5G Core Network Functions. In addition, Verizon will invest approximately $40 million in Casa stock, resulting in a 9.9% ownership stake.
Natus Medical Incorporated (NASDAQ:NTUS)is trading 29% above last week's close after it revealed it has entered into an agreement to be acquired by an affiliate of ArchiMed for approximately $1.2 billion.
Twitter Inc (NYSE:TWTR) shares are up 4% after its board of directors adopted the poison pill strategy in an attempt to stop Tesla (NASDAQ:TSLA) CEO Elon Musk from increasing his stake in the company above 15%.
Bank of America Corp (NYSE:BAC) has gained 3.1% following its earnings report, which saw it report earnings per share of $0.80 on revenue of $23.23 billion, beating analyst expectations.
Charles Schwab Corp (NYSE:SCHW) stock has declined 8.6% after missing earnings and revenue expectations. The financial services firm reported earnings per share of $0.77 on revenue of $4.67 billion.
Bank of New York Mellon (NYSE:BK) also missed earnings and revenue forecasts resulting in its stock trading 2.9% lower midday. The firm posted earnings per share of $0.86 on revenue of $3.93 billion.
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