Jack Dorsey, chief executive officer of Square Inc., second right, gives a tour of the floor of the New York Stock Exchange (NYSE) in New York, USA, on Thursday, November 19, 2015.
Jana Paskova | Bloomberg | Getty Images
Check out the companies making headlines during midday trading.
Block — Shares fell nearly 3%, after losing nearly 15% in the previous trading session when short seller Hindenburg Research claimed Block enables fraud. Atlantic Equities downgraded the stock’s rating to hold on Friday, citing the lack of clarity on the payments company’s Cash App following Hindenburg’s short position.
GameStop — The famed meme stock gained 2.5% in afternoon trading. The stock has been trading since it reported its first profitable quarter in two years earlier this week.
German Bank — The German lender’s US-listed shares fell 5% and bounced off their lows. The bank’s share had fallen about 14% after bank credit default swaps rose without a clear catalyst. JPMorgan defended Deutsche Bank on Friday, saying investors should focus on the European bank’s “solid” fundamentals.
Regeneron — Regeneron gained 2.2% after Jefferies upgraded the pharmaceutical stock to a buy from hold rating and said its Dupixent drug, in development with Sanofi, could serve as the company’s next big catalyst.
Wells Fargo and JPMorgan — Shares of commercial banking giants were lower during afternoon trading, with Wells Fargo pulling back 2.3% while JPMorgan fell 2.2%. Both stocks were under pressure this month due to the wider turmoil in the financial sector.
incyte — Pharmaceutical stock fell about 4% after Incyte announced that the Food and Drug Administration had informed the company that the regulator would not approve an application for a new blood cancer tablet in its current form.
Activision Blizzard and Microsoft — Shares rose 5% after Britain’s Competiton and Markets Authority dropped some of its concerns about Microsoft’s potential takeover of the company. Microsoft shares rose 0.2%.
— CNBC’s Alexander Harring, Yun Li, Jesse Pound, Michelle Fox and Samantha Subin contributed to this report.
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