By Sam Boughedda
Investing.com -- U.S. equities are gaining Monday with the Dow trading over 2% higher. Here are your midday movers on May 23rd.
- VMware (NYSE:VMW) stock jumped more than 20% after reports that Broadcom (NASDAQ:AVGO) is in talks to acquire the cloud computing and virtualization technology company. A potential deal to acquire VMware is said to cost up to $50 billion.
- JPMorgan Chase & Co (NYSE:JPM) is trading 7.4% above Friday's close after it raised its outlook for net interest income and said it could achieve a key performance target this year, taking a more optimistic stance. JPMorgan's comments have also boosted other banking stocks.
- Deere & Company (NYSE:DE) is continuing to rise following Friday's earnings report which saw it close the session 5.51% higher. Deere stock is currently trading a further 5.8% above Friday's close after it beat earnings and revenue estimates.
- Chinese electric vehicle company XPeng (NYSE:XPEV) is down more than 7% despite beating first-quarter earnings and revenue estimates. XPeng shares fell after its guidance disappointed investors.
- GameStop (NYSE:GME) has edged 0.25% higher on the back of its announcement of a digital wallet for cryptocurrencies and NFTs.
- Electronic Arts (NASDAQ:EA) has gained 2% on reports that it is actively pursuing acquisition and merger options. Reports state there are several potential suitors including Disney (NYSE:DIS), Apple (NASDAQ:AAPL), and Amazon (NASDAQ:AMZN).