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Today's Morning Movers and Top Ratings: AVGO, ADSK, GME, AMCX and More

Movers and Shakers wrote a column · Jun 17 08:00
Morning Movers
Gapping up
$GameStop(GME.US)$ experienced a 0.9% uptick in its share price as anticipation built for the video game retailer's rescheduled annual meeting, set to occur later in the day. The original meeting was deferred last week following a technical issue spurred by substantial shareholder interest.
$UBS Group(UBS.US)$ edged up by 0.7% as the financial powerhouse announced its plan to earmark roughly $900 million for the reimbursement of investors. This fund allocation is to cover 90% of the investments tied to Credit Suisse funds connected to the now-defunct supply chain finance company, Greensill Capital.
$Best Buy(BBY.US)$ The consumer electronics retailer saw its shares rose by 1.72% after receiving an upgrade from UBS, moving from neutral to buy. UBS believes that the introduction of new products and the current cycle of appliance upgrades present opportunities that could bolster the company's stock value.
$Autodesk(ADSK.US)$ shares rose by 4.47% upon the announcement that Starboard Value, an activist investment fund, has acquired a $500 million interest in the business. Following this investment, Starboard is contemplating legal action due to concerns about the company’s delayed disclosure concerning results from an internal investigation.
$Broadcom(AVGO.US)$ rose more than 3.2%, and continued its rise from Friday. The company posted an earnings beat for the second fiscal quarter last Wednesday.
Gapping down
$Primo Water(PRMW.US)$ shares saw a 1.9% decrease upon the revelation that the company is planning an all-stock merger with BlueTriton Brands.
$Coinbase(COIN.US)$ shares dropped by 1.2%, feeling the pressure from a further slide in bitcoin prices, as the leading digital currency's value continued to wane.
$AMC Networks(AMCX.US)$ shares tumbled by 15% following the company's announcement of its intent to offer $125 million worth of convertible senior notes, set to mature in 2029, through a private placement.
$Louisiana-Pacific(LPX.US)$ saw its share price fall by 2.5% in early trading on Monday. This drop came after Goldman Sachs lowered the company's stock rating to sell from neutral, attributing the downgrade to broader economic challenges and heightened competition in the market.
Source: CNBC;
US Top Rating Updates on 06/17
Today's Morning Movers and Top Ratings: AVGO, ADSK, GME, AMCX and More
Source: Dow Jones
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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