A worker at a Lennar home under construction.
Justin Sullivan | Getty Images News | Getty Images
Here’s a look at the companies making the biggest moves Monday afternoon:
DR Horton, Lennar, Pulte Group — Homebuilder shares rose Monday after KeyBanc improved twice underweight to overweight sector. Analyst Kenneth Zener said homebuilders that have underperformed this year have tended to bounce back faster and more sharply than the broader market. Shares of Lennar rose about 2%, DR Horton rose more than 2%, and PulteGroup rose about 4%.
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Array Technologies — Solar stocks have since increased by more than 3% Piper Sandler upgraded Array Technologies has an overweight to neutral rating, saying the company has more progress in an advanced development.
SunOpta — Shares of SunOpta rose more than 5% after being named a A top pick by Cowen. Analyst Brian Holland, who has a buy rating on the stock, wrote in a note that “the company’s agnostic stance and capital execution provide strong growth lines of sight that are underappreciated by the market.” Its $15 price target represents a 55.9% upside from Friday’s close.
Open door technologies — Opendoor fell 6% after the Bloomberg report iBuyer August lost money on 42% of its sales. Like others in the housing space, the company faces headwinds, including the housing downturn and mortgage rates above 6%.
AutoZona — AutoZone shares fell more than 2% as traders looked ahead to a mixed quarterly earnings report. The company’s gross margin of 51.5% was slightly below StreetAccount’s estimate of 51.9%. Still, AutoZone earned $40.50 per share in the previous quarter, beating estimates of $38.51.
NCR — Shares of NCR are down almost 3% after being downgraded from overweight to equal weight by Morgan Stanley. The company said the path to unlocking shareholder value is “less clear and has a longer tail” after the enterprise payment solutions company said on Friday it would split into two companies.
Wix — Wix shares rose 11% after activist investor Starboard Value revealed a 9% stake in web development platform company. According to ReutersStarboard spoke with Wix about how the company, which has lost half its value this year, can improve its operations.
Coinbase — Shares of the cryptocurrency exchange fell by more than 7% bitcoin price It fell to its lowest level since June and traders continued to open their short positions after the completion of the Ethereum merger. Stocks also fell on Monday ahead of this week’s Fed decision. Cryptocurrency prices are largely macro-based, and Coinbase’s revenue is largely dependent on trading fees.
Theravance Biopharma — Theravance is up more than 3% after announcing a A $250 million share buyback program
Airlines – United Airlines, Alaska Weather and American Airlines It rose more than 3% and was among the top performers on the S&P 500 on Monday.
Gamco Investors — Shares of the Mario Gabelli-led investment firm fell almost 12% after announcing a voluntary delisting from the New York Stock Exchange after the bell on Friday. Gamco has filed for listing of its common stock on the OTCQX platform operated by OTC Markets Group.
Ralph Lauren — The luxury apparel and home goods maker rose almost 2% after an investor update pointed to high-single-digit sales growth.
-CNBC’s Alexander Harring, Sarah Min, Jesse Pound, Tanaya Macheel and Yun Li reported.
