Stocks making the biggest moves midday: Starbucks, FICO, Acadia Healthcare & more
Check out the companies making the biggest moves midday: Acadia Healthcare — The healthcare stock jumped about 7% after investors Khrom Capital filed to push the company to explore strategic alternatives. Acadia shares are down 33% year to date. Sarepta Therapeutics — The biotech company rallied 6%. While a catalyst for the move was not immediately clear, it did put Sarepta shares up more than 20% over the past three months. Starbucks — The global coffee chain saw shares rising 2.6% after the company announced a small increase in dividend payouts. Starbucks approved an increase in the company’s quarterly cash dividend from 61 cents to 62 cents per share of outstanding common stock. Occidental Petroleum , Berkshire Hathaway — Occidental fell 6% even after Berkshire Hathaway announced it was buying the oil company’s petrochemical division, OxyChem, for nearly $10 billion in cash . Class B shares of Berkshire Hathaway slipped about 0.2%. Fair Isaac — The stock rallied 19% after the company unveiled a system that allows mortgage lenders direct access to FICO scores. Credit bureaus Transunion and Equifax shed 12% and 9%, respectively. Celanese — The materials company rose more than 5% after Citi upgraded the stock to buy from neutral. “Despite the sluggish macro backdrop, we see continued self-help levers supporting some earnings growth into next year and divestitures helping to clean up the balance sheet,” the bank said. Lithium Americas — Shares fell 3.8% after a Canaccord Genuity downgrade to sell from speculative buy due to the likely limited benefits of the lithium company’s recently revised loan with the U.S. Department of Energy. “We believe that the recent run-up in the stock price is overdone and does not accurately reflect the valuation implications of the revised deal with the DOE,” Canaccord said in a note. Bloom Energy — Mizuho downgraded the energy company to neutral from buy, pushing the stock down about 1.5%. The Wall Street firm said Bloom is limited by its internal production capacity and the stock is poised for a pullback following a 254% rally in the third quarter. — CNBC’s Yun Li, Alex Harring and Liz Napolitano contributed reporting.
