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Stocks making the biggest moves midday: SoFi, ON Semiconductor, Disney, Sweetgreen and more

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ONSOFINYCBHASXPEVDIS

Pedestrians walk by the SoFi Technologies headquarters on February 22, 2022 in San Francisco, California.
Justin Sullivan | Getty Images

Check out the companies making headlines in midday trading.

SoFi Technologies

ON Semiconductor

Disneyback former executives Kevin Mayer and Tom Staggs, both of whom were once considered potential successors to Bob Iger.

New Relictake the software company private. The all-cash deal values the company at nearly $6.5 billion and offers $87 per share.

Spero Therapeuticsreached an agreement with the Food and Drug Administration to have a special protocol assessment in its phase 3 trial for a urinary tract infection drug.

Sweetgreenoverweight from neutral, saying that the tide may be turning for the company.

XPeng

Hasbroupgrade to buy from neutral. Bank of America said Hasbro could beat earnings expectations when it reports on Thursday, due in part to the success of its cards set tied to “Lord of the Rings.”

GoodRxCowen upgraded them to outperform, saying the company’s pharmacy benefit management partnerships – like Express Scripts and CVS Caremark – help generate a new revenue stream but also solidify the company’s position in the health-care ecosystem. Cowen raised its price target to reflect about 78% potential upside.

AdobeMorgan Stanley upgraded the shares to overweight from equal weight. The Wall Street firm said while Adobe may have been “late to the party,” the company still stands to gain from artificial intelligence integration across its line of products. Morgan Stanley’s $660 price target represents nearly 25% upside.

Chevroncash flow inflection for the company.

New York Community Bancorpbuy from hold, citing good execution.

CSXsector perform from outperform despite noting fluid operations and positive performance in recent quarters.

Wayfairoverweight from neutral and raised its price target. The Wall Street firm said Wayfair is improving sales and taking back market share as the home furnishings industry stabilizes.

Salesforce

— CNBC’s Hakyung Kim, Yun Li, Sarah Min, Tanaya Macheel and Samantha Subin contributed reporting

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