Check out the companies making headlines in midday trading. Macy’s — Shares of the department store giant added 2% after the company rejected a $5.8 billion proposal by Arkhouse Management and partner Brigade Capital Management to take the retailer private, citing concerns over deal financing and valuation. Archer-Daniels-Midland — The food processor’s shares dropped more than 22%, making the stock poised for its second worst day in its history back to 1972. Archer-Daniels-Midland announced weak fourth-quarter earnings guidance and placed CFO Vikram Luthar on administrative leave amid an investigation into the company’s accounting practices. Elsewhere, Goldman Sachs downgraded shares to neutral from buy. SolarEdge Technologies — Shares of SolarEdge Technologies rose more than 3% after the solar company announced plans to cut 16% of its workforce worldwide in an attempt to trim operating expenses. The reductions will impact about 900 employees. B Riley Financial — Shares tumbled as much as 8% after Bloomberg reported the Securities and Exchange Commission is investigating the financial services company’s deals with a client who was connected to a securities fraud. Spirit Airlines , JetBlue Airways — The airline stocks moved during Monday’s trading session, following their Friday announcement that they will appeal a federal judge’s ruling last week that blocked their planned merger. Spirit Airlines rallied nearly 12%, while JetBlue added 1.4%. StoneCo — Shares of the Brazilian payments company rose more than 6% following an upgrade to a buy rating from Goldman Sachs. “Stone is our preferred name within Brazil payments, given its superior revenue and earnings growth outlook,” the bank wrote. Gilead Sciences — The biopharmaceutical stock plunged more than 10% after its lung cancer drug Trodelvy failed to meet its primary endpoint of overall survival in a phase 3 trial. The company said in a statement that it intends to identify metastatic non-small…
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