Check out the companies making headlines in midday trading. McGrath RentCorp — Shares jumped more than 9% after WillScot Mobile Mini, an equipment rental company, said it would buy McGrath RentCorp in a $3.8 billion cash-and-stock transaction. Dollar Tree — Shares of the discount retail chain popped 1% following an upgrade to overweight from neutral at JPMorgan. As catalysts, the bank cited a larger total addressable market and higher profitability. SoFi Technologies — Shares of the financial services provider surged 21% after the company reported its fourth-quarter financial results. SoFi posted earnings of 2 cents per share, beating Wall Street estimates by 2 cents, according to LSEG, formerly known as Refinitiv. It also reported $594.2 million in revenue, while analysts anticipated $571.8 million. iRobot — The Roomba maker slumped 11% after agreeing to terminate its planned merger with Amazon , citing “no path to regulatory approval.” iRobot also said it would cut 31% of its staff, or about 350 employees, and that its CEO has stepped down. Amazon shares inched up slightly. Western Digital — The memory chip maker gained 2.5% following reports on Jan. 27 that Bain Capital is restarting discussions to facilitate a merger between Western Digital and Japan-based Kioxia Holdings. Bloom Energy — The green energy stock declined more than 7%. Bank of America downgraded shares to underperform from neutral on flat revenue projections between 2023 and 2025. ZoomInfo Technologies — Shares jumped more than 6% after Bank of America upgraded shares to buy from neutral on revenue growth acceleration. Analyst Koji Ikeda named new artificial intelligence products as potential tailwinds. Hershey — Shares gained 1% after AllianceBernstein upgraded the chocolate maker to outperform from market perform. The firm cited tailwinds including improving market share and volume trends, as well as an attractive valuation and strong top-line growth. Warner Bros. Discovery…
Read the full article here
