Apple, Manchester United, Activision Blizzard and more

The Microsoft logo is seen on a smartphone placed over the Activision Blizzard logo displayed in this illustration taken January 18, 2022.

Dado Ruvic | Reuters

Find out which companies are making headlines Friday at noon.

Apple – Apple shares fell 2% on Friday after protests erupted at the iPhone maker’s main supplier Foxconn in China earlier this week. Analysts and investors are also concerned that recent manufacturing shutdowns in the country following a resurgence of Covid-19 could hurt supply this holiday season.

ActivisionBlizzard – Shares of the video game company fell more than 4% after Politico announced the Federal Trade Commission is likely to sue to block Microsoft’s $69 billion acquisition of Activision Blizzard.

Manchester United – Manchester United shares jumped more than 16%, building on gains this week after news that the football team’s owners are considering a potential sale.

Coupa Software – Shares of the software company jumped 7, building on a 28.9% rise on Wednesday after Bloomberg reported that Vista Equity Partners was considering an acquisition of Coupa.

Canou – The electric vehicle company’s stock price rose 6.5% after a Securities and Exchange Commission filing revealed CEO Tony Aquila had bought shares. He bought more than 9 million shares at $1.11 apiece on Nov. 21, valued at around $10 million. Half of those shares were bought outright, while Aquila’s company AFV Partners bought the other half.

Grindr – The LGBTQ dating app fell 6%, continuing a week of losses after the Nov. 18 rally, which was its first day under the new post-SPAC ticker. It is now over 40% from its starting point and over 85% from the high seen during the initial rally.

Lufax Holding – U.S.-listed shares of the Chinese fintech company fell 20% on Friday. Lufax announced disappointing results earlier in the week, which were accompanied by downgrades and reductions in price targets at some Wall Street companies. On Friday, JPMorgan downgraded the stock from overweight to underweight and lowered its price target for the stock.

Generac – Shares of the generator maker fell 1% on Friday after Argus Research downgraded the stock to keep it long. Argus said in a note that supply chain issues will weigh on Generac’s performance “for the next several quarters” and that the stock deserves to trade at a worse multiple against its peers.

– CNBC’s Alex Harring, Jesse Pound, Yun Li and Darla Mercado contributed reporting

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