CNXC - Hot Stocks: EDR buys OpenBet; CNXC earnings; HYZN short call; hedge fund takes stake in HUN
On a day when macro concerns drove most of the trading on Wall Street, a hodge-podge of headlines triggered major single-stock moves in Tuesday's midday trading. This included an advance in shares of talent agency and media company Endeavor (NYSE:EDR), which sparked investor interest with a $1.2B foray into the sports betting world. Meanwhile, Huntsman (NYSE:HUN) climbed on news that an activist hedge fund had purchased a sizable chunk of the company. Concentrix (NASDAQ:CNXC) also posted intraday gains, supported by the release of strong quarterly earnings. Looking at the day's biggest losers, Hyzon Motors (NASDAQ:HYZN) tumbled on harsh accusations leveled by a short-seller. Elsewhere, massive layoffs dragged down shares of Ziopharm Oncology (NASDAQ:ZIOP). Gainers Endeavor (EDR) saw gains in midday trading after it reached a deal to buy sports betting firm OpenBet from Scientific Games (NASDAQ:SGMS). The $1.2B purchase price consists of $1B in cash and $200M in stock. EDR
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Hot Stocks: EDR buys OpenBet; CNXC earnings; HYZN short call; hedge fund takes stake in HUN