Customers look at motorcycles at a dealership in South San Francisco, California.
The companies are making news in midday trading.
The motorcycle maker's shares jumped after it was announced that Livewire will go public through a merger with a special purpose acquisition company. The deal will be traded on the New York Stock Exchange under the ticker symbol.
A new Israeli study shows that the Covid booster shot protects against severe illness from the omicron variant. Its partner BioNTech saw its shares increase in value. The company will acquire Arena Pharmaceuticals for over $6 billion in cash. Arena's shares went up by 79%.
The speculative stocks that used to be popular with retail investors have fallen as traders bail out of their risky positions. AMC Entertainment lost 15.8% of its value in midday trading. Bed Bath & Beyond fell.
The financial services company and parent of Silicon Valley Bank fell more than 3% after it announced it would acquire MoffettNathanson to expand its investment banking capabilities.
Bristol-Myers Squibb saw its shares rise 3.8% after it announced a dividend increase of 10.2% over last year's quarterly rate, as well as an additional $15 billion share repurchase authorization.
The shares of the energy companies fell after Iraq's energy minister said they are in talks over the potential sale of Exxon's stake in the West Qurna-1 oil field. Exxon's shares lost 1.8% while the shares of Halliburton fell 5.3%.
The stock of Coca-Cola was upgraded to an overweight rating by JP Morgan. The firm believes that the stock is compelling both on a historical basis and relative to peers, and that it expects top-line momentum to build into 2022, driven by the ongoing economic reopening following the pandemic.
MotorTrend named Rivian's R1T model the publication's most remarkable pickup truck of the year on Monday and the company's share increased 1%. The R1T is the first mass-produced electric truck in the U.S., and the recognition is highly sought by automakers globally every year. General GM fell 5% and Ford slipped 4.5%.
Dollar Tree's shares fell 1% after activist investor Mantle Ridge said it would try to replace the Dollar Tree board. Dollar Tree said it has offered to explore a settlement with Mantle Ridge.
Travel stocks were lower Monday amid continued fear and anxiety around the omicron variant of Covid-19. United and American Airlines fell. Royal Caribbean Cruises dropped about 4.8%. Marriott and Hilton were both 4% and 2.5% lower.
CNBC's Pippa Stevens reported.
