REV - Hot Stocks: REV jumps 90%; RCL plunges; EVOP climbs on takeover deal; EB sets 52-week low

Stocks finished Monday's session with mild gains, halting an upswing that marked most of last week. Investors generally held their fire ahead of more earnings reports and jobs data due out later this week.

While the overall market delivered a lackluster performance, shares of Revlon ( NYSE: REV ) surged. The advance came as a bankruptcy court approved a key loan for the company.

EVO Payments ( EVOP ) also showed impressive gains, surging to a 52-week high after agreeing to a takeover deal with Global Payments ( GPN ).

Looking to the downside, Eventbrite ( EB ) added to earnings-inspired losses incurred last week, reaching a new 52-week low. At the same time, news of a convertible note offering prompted selling in Royal Caribbean ( RCL ).

Standout Gainer

Revlon ( REV ) popped almost 90% after a bankruptcy court allowed the makeup company to move ahead with a $1.4B loan . The cash is meant to help the firm continue operations while it makes its way through Chapter 11.

On the news, the heavily shorted stock jumped $4 to close at $8.49.

Shares reached a 52-week low of $1.08 in mid-June just before it filed for bankruptcy. The stock has rebounded since, with Monday's advance taking REV to its highest close since March.

Standout Loser

Royal Caribbean ( RCL ) declined almost 8% on news of a new private offering of debt , as the company attempts to rework its balance sheet after being forced to scramble for funds during the pandemic shutdown.

The new offering involves $900M of senior convertible notes due 2025. The cruise operator said this will replace some of its existing near-term maturities with longer-term ones.

On the news, RCL retreated $2.92 to close at $35.79. Shares had reached a 52-week low of $31.09 in mid-July but have bounced off that level. The stock is down about 56% for 2022 as a whole.

Notable New High

EVO Payments ( EVOP ) jumped on news that it has agreed to be acquired Global Payments ( GPN ), sparking a 23% advance on the day. Shares also established a new 52-week high.

Under the deal , each EVOP share will be exchanged for $34 per share in cash. This gives the payment technology and services provider an enterprise value of $4B.

EVOP soared by $6.37 to finish at $33.71. This added to rebound the stock has staged since hitting a 52-week low of $20.07 earlier in the year. The stock is now up 31% for 2022 as a whole.

Notable New Low

Following a sharp earnings-inspired decline last Friday, Eventbrite ( EB ) continued to lose ground during Monday's session. The stock fell 9% to record a fresh 52-week low.

The event management and ticketing website reported a Q2 loss that came in wider than analysts had projected. The firm's adjusted EBITDA showed a profit of $4.7M, its fourth consecutive quarter of profitability on this metric.

The firm also provided a cautious Q3 outlook, based on current macroeconomic uncertainty. EB predicted revenue for the quarter of $65M-$68M, compared to a consensus of $67M.

Following a nearly 12% drop in Friday's session, EB finished Monday at $8.51, a decline of 85 cents. During the session, the stock reached an intraday 52-week low of $8.44.

With the recent slide, EB has dropped below a recent trading range to add to losses seen earlier in the year. Shares have fallen nearly 52% on the news.

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