Schwab, DuPont stocks rally after upgrades, H&R Block, Oneok shares fall, and other stocks on the move

By MarketWatch

Athenex stock plummets after biotech files for bankruptcy

Here are some of the stocks on the move on Monday.

Stock gainers:

NeoGames SA shares (NGMS) skyrocketed 112% in afternoon trading after Australian gaming technology developer Aristocrat Leisure agreed to pay $1.2 billion, or $29.50 per share, for the digital lottery platform

DuPont de Nemours shares (DD) rose 2.5% as Deutsche Bank upgraded the chemicals producer to buy from hold, as it said a period of 7.5 years of mergers-and-acquisitions activity is ending.

Shares of Workhorse Group Inc. (WKHS) rallied 4%, reversing an earlier loss of as much as 9.9% to a 4-year low in intraday trading, after the electric vehicle maker missed first-quarter revenue expectations but reported a narrower-than-expected loss and affirmed its full-year outlook.

NRG Energy Inc.'s stock (NRG) climbed as much as 7.3% before paring gains to be up 2% in afternoon trading, after Elliott Management disclosed a $1 billion stake in the power company, and unveiled plans to create $5 billion in shareholder value, including a strategic review of its home services unit, Vivint.

Charles Schwab Corp. shares (SCHW) ran up over 5% after Raymond James upgraded the financial services and brokerage company to outperform, citing signs that client cash sorting is tapering, which should support balance sheet stabilization.

Sarpeta Therapeutics Inc.'s stock (SRPT) soared 29% after a U.S. Food and Drug Administration panel voted 8-6 in favor of accelerated approval for the company's latest gene therapy for Duchenne muscular dystrophy.

Newmont Corp. shares (NEM) rose 2.9%, to reverse an earlier loss, after agreeing to buy Australian gold and copper producer NewcrestNCMGY for $17.5 billion.

Stock decliners:

H&R Block Inc.'s stock (HRB) dropped 2.7%, ahead of the release this week of a government report on a proposal to let the Internal Revenue Service (IRS) allow people to prepare and file their taxes electronically and for free, directly with the tax agency. Shares of Intuit Inc. (INTU), which provides the tax preparation software TurboTax, lost 1.4%.

Oneok Inc. shares (OKE) slumped 8.4% after agreeing to buy Magellan Midstream Partners (MMP) for $18.8 billion in cash and stock, which is a 22% premium to Friday's close. Magellan Midstream Partners' stock shot up 14%.

Athenex Inc. shares (ATNX) plummeted 62% after the biotechnology company that specializes in cancer treatments said late Sunday it has filed for Chapter 11 bankruptcy. The company was one of a handful of companies that filed for bankruptcy over the weekend.

-MarketWatch

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05-15-23 1424ET

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