Check out the companies making headlines midday Monday:
Boeing — Boeing shares slipped more than 1.5 percent after The Wall Street Journal reported that federal prosecutors and the Department of Transportation are scrutinizing the development of the company’s 737 Max jets. An Ethiopian Airlines flight involving the 737 Max 8 crashed on March 10.
Facebook — Shares of the social media giant fell more than 3 percent after an analyst at Needham downgraded them to hold from buy. In a note to clients, the analyst warned of higher regulatory risk and that Facebook’s pivot to privacy could hurt the stock.
Dermira — Shares of Dermira jumped 84.4 percent after the biopharmaceutical company announced that its new eczema treatment passed a stage in their study. The medication demonstrated improvements in patient’s eczema when compared with patients who didn’t receive treatment.
Deutsche Bank — Shares of the investment bank rose 4.3 percent following merger talks with Commerzbank. The companies, the two largest banks in Germany, indicated they were making quick progress on the merger but added a deal was not yet reached.
Synaptics Inc. — Shares of Synaptics plunged more than 22 percent on Monday. The maker of touchscreens and fingerprint sensors that go into everything from smartphones to tablet computers gave sales guidance late Friday that was at the lower end of its previously stated range – citing weaker demand from China. The company also said that its CEO Richard Bergmand would step down immediately.
Johnson Controls — Shares rose 1.7 percent after Well Fargo upgraded the technology and multi-industrial company to outperform from market perform, citing low expectations and sentiment “even as fundamentals are picking up.”
Edwards Lifesciences — Shares of Edwards Lifesciences rose 6.2 percent after the company released positive findings from its non-invasive heart valve replacement systems. Phase three of a clinical trial for the valves showed better results than surgical options.
Overstock.com — Overstock shares dropped 5.7 percent after the online retailer reported a bigger-than-expected loss for the fourth quarter. Overstock posted a loss of $1.39 per share. Analysts polled by FactSet forecast a loss of 84 cents. CEO Patrick Byrne called the losses “nauseating” in a statement.
Lumber Liquidators — Shares of Lumber Liquidators Holdings dropped 3.4 percent after the company’s CFO resigned, and the company lowered its guidance for 2019. The company also reported negative same-store sales for its first quarter. The company also missed revenue estimates by $3.6 million.
Caesars Entertainment — Shares of Caesars jumped 4.6 percent on reports it is in early stages of exploring a merger with fellow U.S. casino operator Eldorado Resorts. The deal talks come after Ceasars, earlier this month, agreed to give billionaire investor Carl Icahn three board seats to his representatives.
