U.S. Movers: Bloomin Brands, Coinbase, PGT Innovations, Marathon Digital, Walt Disney
- Scott Peters
- U.S.A. New York City
-
PGT Innovations received a higher takeover offer after the company agreed to merge with Masonite International. Cryptocurrency-linked stocks declined after Bitcoin dropped more than 5%.
Stocks declined for the second day this week after investors recalibrated their rate-cut expectations amid ongoing economic uncertainties.
The S&P 500 index decreased 0.5% to 4,718.48, and the Nasdaq Composite dropped 0.6% to 14,679.88.
The yield on 2-year Treasury notes increased to 4.34%, 10-year Treasury notes inched higher to 3.96%, and 30-year Treasury bonds eased to 4.11%.
PGT Innovations increased 3.5% to $41.70 after the window and door maker received an unsolicited offer from Miter Brands for $41.50 a share.
PGT agreed to a $41 per share offer from Masonite International on December 18.
Bloomin' Brands increased 2.6% to $28.01 after the owner of Outback Steakhouse added two board members, as agreed with activist investor Starboard Value.
Walt Disney decreased 0.03% to $90.66, and activist investor ValueAct Capital agreed to support the company's latest slate of board members, giving the management a leg up against activist investor Trian Partners.
Cryptocurrency-focused stocks traded down after Bitcoin declined 5.5% to $42,395.60.
Marathon Digital Holdings dropped 10.5% to $20.58, and Coinbase Global declined 7.5% to $146.0.
Apple declined 0.7% to $184.09 and extended its loss for the second day after falling 3.6% in the previous session following a downgrade by Barclays analysts.
BYD Class H shares in New York traded down 2.5% to $26.85 despite the company ramping up sales of its new energy vehicles in 2023 to 3 million.
BYD produced 1.6 million battery-powered passenger cars and 1.4 million hybrid cars.
Tesla still leads the battery-powered vehicle segment with 1.8 million vehicles in 2023.
Annual Returns
| Company | Ticker | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Bloomin Brands Inc | BLMN | 0% | 0% | 0% |
| Bloomin` Brands Inc | BLMN | -1% | -57% | 0% |
| Marathon Digital Holdings Inc. | MARA | -0% | -26% | 363% |
| PGT Innovations Inc. | PGTI | 0% | 3% | 115% |
| Apple Inc | AAPL | -6% | 30% | 43% |
| Coinbase Global Inc. | COIN | 1% | 47% | 308% |
| Masonite International Corporation | DOOR | 0% | 55% | 14% |