Shares of MoneyGram (MGI) are tanking, down 9%, after US regulators blocked the sale of the money transfer company to Alibaba’s (BABA) Ant Financial Services. The $1.2 billion deal, which was in the works for several years, would have helped Alibaba solidify its US financial presence.
Southwest Airlines (LUV) announced it will share its tax cut windfall with workers. The $1,000 cash bonus to employees is a one-time award, but shareholders aren’t rewarding the generosity. Southwest stock is off 2% today.
IBM (IBM) received an upgrade to outperform at RBC Capital Markets, with analysts raising their price target to $180, up from $160.
AMD (AMD) shares are soaring, up 8% today, on a report that a design flaw was found in microprocessors made by rival Intel (INTC). The defect in processor chips forced a significant redesign of Linux and Windows kernels, according to The Register, affecting the performance of all machines with the chips.
Arena Pharma (ARNA) shares are 6% higher on a Wells Fargo upgrade to outperform with a price target of $53, up from $19.
General Mills (GIS) shares received an upgrade to neutral at Piper Jaffray, with analysts citing benefits from corporate tax reform.