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Apollo, GE, GameStop and more

Here are the stocks making headlines in midday trading.

Apollo Global Management – Shares of the private equity firm gave back earlier gains and declined more than 4{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} after the company announced that it will merge with Athene Holding in an all-stock transaction. The deal values Athene Holdings, a retirement services company, at around $11 billion. Shares of the company spiked 6{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}.

General Electric — GE stock rose 4{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} after a report said the industrial company is nearing a $30 billion-plus deal to combine its aircraft-leasing business with Ireland’s AerCap Holdings as it looks to simplify its business. The Wall Street Journal reported over the weekend that GE is close to a deal to combine the largest remaining unit of GE Capital, once a vast lending operation. Shares of AerCap jumped 13.3{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}.

GameStop — Shares of the video game retailer continued its volatile trading on Monday, jumping nearly 41{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}. The company announced that former Chewy executive Ryan Cohen will lead a committee to shape GameStop’s transition to e-commerce.

Delta Air Lines, American Airlines, Southwest and United Airlines— Shares of the airlines rose on Monday amid optimism about the Covid pandemic. The Senate passed a $1.9 trillion stimulus bill and Covid vaccinations topped 3 million over the weekend. Shares of Delta Air Lines rose 3.6{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}. Shares of American climbed 5{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}, while Southwest rose more than 6{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}. United Airlines 7{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}.

McAfee — Shares of the cybersecurity company rallied more than 12{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} following news that it sold its enterprise business to privately held Symphony Technology Group for $4 billion in cash.

Disney – The media and theme park stock jumped about 6{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} after California eased Covid rules, paving the way for Disneyland to reopen on a limited basis in April. The Centers for Disease Control and Prevention also said Monday people who’ve been fully vaccinated against Covid-19 can meet safely indoors without masks, further boosting reopening hopes. 

VF Corp – Shares of the apparel and footwear company rose 3.5{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} after Pivotal Research upgraded the stock to buy from hold. The Wall Street firm said VF has a favorable setup right now after its brand North Face went through a transition.

Coca-Cola – The beverage stock rose 1.7{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} after RBC Capital Markets upgraded Coca-Cola to outperform from market perform. The firm said in a note that the company should benefit from increased mobility as Covid restrictions are eased around the world.

–CNBC’s Tom Franck, Maggie Fitzgerald, Yun Li, Pippa Stevens and Michael Bloom contributed to this story.