Stocks making the biggest moves midday: General Electric, Caterpillar, Wayfair & more - Recent News from USA
Traders react after the closing bell on the floor of the New York Stock Exchange (NYSE).

Stocks making the biggest moves midday: General Electric, Caterpillar, Wayfair & more

Check out the companies making headlines midday Monday:

General Electric, Danaher — Shares of General Electric rose 6.4 percent after the company announced the sale of its biopharmaceutical drug unit to Danaher for $21.4 billion. GE plans to use the money from the sale to leverage and strengthen the balance sheet. The deal is expected to close during GE’s fourth-quarter of this year. Danaher also gained 8.5 percent.

Wayfair — Shares of Wayfair jumped 6.89 percent as analysts raised their price target on the stock after the e-commerce home goods company reported better-than-expected fourth-quarter earnings. “Wayfair’s rapidly expanding logistics network, investments in emerging categories, and early success in international markets continue to bolster the trajectory of revenue growth,” Stifel analyst Scott Devitt, who hiked his price target to $132 per share from $115, said in a note.

Terex Corp. — The manufacturing company reported adjusted earnings per share of 51 cents for the fourth quarter, topping an estimate of 47 cents. The results sent Terex up more than 1.5 percent. Terex also issued better-than-expected earnings guidance for 2019.

Caterpillar, Boeing — Shares of Caterpillar and Boeing rose 2 percent and 0.67 percent, respectively, after President Donald Trump said the U.S. would delay issuing additional tariffs against Chinese goods. Caterpillar and Boeing are considered trade bellwethers because of their overseas exposure.

Cronos Group — The Canadian marijuana producer’s U.S.-listed shares fell more than 7 percent after Jefferies initiated coverage of its Toronto-listed stock with an underperform rating. “While historically a solid operator, at present we feel there is little to get really excited about other than the investment and large sum of money from Altria,” Jefferies said in a note.

McDermott International — Shares of McDermott dropped as much as 12.1 percent after the construction company released worse-than-expected fourth-quarter results. McDermott posted a loss of $1.55 per share in the December quarter, while Wall Street had estimated a gain of 17 cents per share. While revenue rose to $2.07 billion from $718 million, it also fell short of expectations. The stock recovered to close 3.36 percent higher, however.

Goodyear Tire & Rubber — Shares of the tire manufacturer rose 1.2 percent after a regulatory filing showed Goodyear’s director Werner Geissler bought 35,000 shares of the stock for $652,628 recently. According to Barron’s, that is the largest open-market purchase by an insider since 2004.

—CNBC’s Yun Li and Nadine El-Bawab contributed to this report.

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