A look at companies making headlines in midday trading: JetBlue – Shares fell 13% after the company announced plans to sell $400 million in convertible notes maturing in five years. Hawaiian Electric Industries – Shares plummeted more than 16% after the company said it still had no plans to raise funds for $1.7 billion in Maui storm and wildfire settlements. Hawaiian Electric also reported a consolidated net loss of $1.3 billion, or $11.74 per share, for the second quarter, including a goodwill impairment charge. Last year, the company posted net income of $55.1 million for the same period. KeyCorp – The Cleveland-based regional bank soared 13% after the Bank of Nova Scotia agreed to take a minority stake, making KeyCorp the top performer on the S&P 500 index on Monday. Under the terms of the deal, Key will receive about $2.8 billion in cash, while Scotiabank will ultimately acquire a 14.9% stake in the bank. Monday.com – Shares soared about 12% to a new 52-week high after the Israel-based software company reported better-than-expected second-quarter results. Monday.com earned 94 cents a share, excluding overhead, on revenue of $236.1 million. Analysts surveyed by FactSet had expected earnings of 56 cents a share on revenue of $229 million. Marathon Digital – The cryptocurrency mining company fell about 7% after it announced a $250 million private placement of seven-year notes. Starbucks – The coffee chain rose nearly 4% after The Wall Street Journal reported that Jeff Smith-led activist investor Starboard Value had bought more shares. Starboard is urging Starbucks to take steps to boost the stock’s value, The Wall Street Journal reported, citing anonymous people familiar with the matter. Qualcomm – The chipmaker fell about 2%. Wolf Research downgraded Qualcomm to peer perform from outperform, citing the impact of Apple’s use of its built-in modems. Robinhood – The online brokerage’s shares rose 2.5% after Piper Sandler upgraded it to overweight from neutral. Piper expects Robinhood to benefit over the long term from “continued growth in global retail and derivatives trading” and “the intergenerational transfer of wealth from baby boomers to their children.” Par Technology – The restaurant technology stock rose 1.8% after Jefferies upgraded it to buy from hold. Jefferies said Par now has scale and momentum to support it. —CNBC’s Alex Harring, Samantha Subin, Yun Lee, Jesse Pound and Michelle Fox contributed to this report.
JBLU, HE, KEY, MNDY, etc.
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