A look at companies making headlines in midday trading: Humana, UnitedHealth Group — Health insurer shares rose across the group on Monday as expectations grew that Donald Trump’s victory in this year’s presidential election would ease cost pressures. Humana and UnitedHealth Group shares rose about 1% each. Wolf Research on Monday named Humana as a potential beneficiary of a Republican victory. Trump Media Technology — Shares rose nearly 29% as investors reacted to Saturday’s assassination attempt on former President Trump and grew more confident that Trump will win this year’s presidential election. Trump Media is the parent company of social media platform Truth Social. Macy’s — Shares fell 12% after the department store terminated talks with Arkhouse & Brigade, which had been trying to buy the company for about $6.9 billion and take it private.Sturm, Ruger & Co., Smith & Wesson — Shares of gun manufacturers rose after the shooting at President Trump’s rally on Saturday. Sturm, Ruger & Co. rose 7%, while Smith & Wesson soared 10%. Firearms stocks tend to rise after mass shootings as investors expect individuals to buy more firearms for fear of further restrictions on access. SolarEdge Technologies — Shares fell 13% after the solar company announced plans to lay off 400 employees to restore profitability following declining revenue. Other solar stocks fell in tandem. Sunrun, Sunnova Energy and NextEra Energy fell 11%, 9% and 5%, respectively. Goldman Sachs — Shares rose 1% after the bank reported second-quarter profits that beat expectations. Goldman said it earned $8.62 per share on revenue of $12.73 billion, while analysts surveyed by LSEG had expected earnings per share of $8.34 on revenue of $12.46 billion. Coinbase, Marathon Digital — Cryptocurrency-related stocks rose as investors increased their bets on Trump’s election victory, which they hope will benefit cryptocurrencies. The Republican candidate recently expressed a positive view of the asset class. Coinbase rose about 13%, while Marathon Digital and MicroStrategy rose 16% and 15%, respectively. Bitcoin also surpassed $63,000 on Monday, further supporting stocks. Apple — Shares of the iPhone maker rose 2% after Loop Capital upgraded Apple’s investment rating to “buy.” Bloomberg News also reported that Apple’s annual sales in India rose $8 billion year-over-year to a record high in the 12 months ending in March. Baxter International – Shares of the medical supplies company fell 3% after Morgan Stanley downgraded it to underweight from equal weight. The firm said Baxter has limited upside potential even as it trades at its lowest price in nearly a decade. Tesla – The electric car stock rose nearly 5%, continuing its rally of more than 31% this month. – CNBC’s Hakyung Kim, Sarah Min, Lisa Kay-Lai Han and Michelle Fox contributed reporting.
Biggest movers at midday: DJT, M, GS, COIN
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