Netflix, Boeing, State Street and more

Check out the companies that make news in the noon trade.

Spotify: The streaming company saw shares rise 2.8% after KeyBanc upgraded Spotify to overweight the weight of the industry. The firm said in a note to customers that the company continued to show faster growth than potential competitors.

Terminix: Terminix added 1% after Bank of America updated the value of shares to buy insufficiently. Bank of America said the weakness in pest control stocks this year creates a “solid buying opportunity,” while it currently sees a “positive risk reward.”

Boeing: The shares of the aircraft manufacturer fell 2%, dragging the Dow, after Ryanair ended talks on the purchase of 737 MAX 10 aircraft. The deal would have been worth tens of billions of dollars, Reuters reported.

Match Group: The shares of the online dating company jumped 6.6% after the announcement that Match will be added to the S&P 500 benchmark. From September 20, Match Group will replace Perrigo Company in the large capital index.

Netflix: Transmission service shares rose about 3.3% after Atlantic Equities raised its price target to $ 780, from $ 690, the highest among leading Wall Street analysts and 32% above the close of trading on Friday. Atlantic raised its subscriber projections for 2024 and said it expects Netflix to have 311 million subscribers by 2025, compared to 209 million at the end of the second quarter.

Coinbase: shares of the cryptocurrency services company fell 3.9%, as the price of bitcoin fell by about 10% on the day it became legal tender in El Salvador, despite the launch it didn’t work smoothly as the country disconnected its government-administered bitcoin portfolio in the morning for software enhancements. On the same day, $ 800 million long-term derivatives were settled in Bitcoin, according to Glassnode. Coinbase shares are listed along with the price of bitcoin.

State Street: The financial firm saw shares fall about 4% after announcing its plans to acquire Brown Brothers Harriman & Co. for $ 3.5 billion in cash, including custody, accounting, fund management, global markets and technology services. The deal is expected to close at the end of the year.

PPG Industries: Paint manufacturer shares fell 3% after the company warned of supply chain disruptions and higher input costs that could affect sales this quarter. The company said it expects third-quarter sales to be $ 275 million, below the company’s forecast for the beginning of the quarter at about $ 225 million.

Johnson & Johnson, Merck, Amgen – Large-capped pharmaceutical stocks fell after Morgan Stanley downgraded them, saying they have limited their rise. The firm changed its ratings from Johnson & Johnson, Merck and Amgen to match the weight of the overweight. Shares fell by around 1.7%, 2% and 2.4%, respectively.

– CNG’s Maggie Fitzgerald, Hannah Miao, Jesse Pound and Yun Li contributed to the communication