Why Arhaus Shares Are Trading Lower By Around 8%? Here Are Other Stocks Moving In Monday's Mid-Day Session

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Shares of Arhaus, Inc. fell sharply during Monday's session.

Jefferies analyst Jonathan Matuszewski downgraded Arhaus from Buy to Hold and lowered the price target from $22 to $16.

Arhaus shares dipped 7.9% to $14.55 on Monday.

Here are some other stocks moving in today’s mid-day session.

Gainers

Morphic Holding, Inc. shares jumped 75% to $55.72 after Eli Lilly agreed to buy the company for $57 per share in cash.
Zapp Electric Vehicles Group Limited Z climbed 71% to $6.97 after jumping around 50% on Friday.
SRIVARU Holding Limited shares climbed 61.3% to $0.2549 after the company announced the deployment of advanced AI tools to manage its lead generation platform.
Inspire Veterinary Partners, Inc. I shares climbed 47% to $2.1928 after gaining 8% on Friday.
Hywin Holdings Ltd. gained 39.5% to $0.4352.
Shapeways Holdings, Inc. climbed 39% to $0.2918 after dipping 22% on Friday.
Myomo, Inc. gained 32% to $3.80 after the company issued preliminary second-quarter revenue guidance above estimates.
Maxeon Solar Technologies, Ltd. shares rose 31% to $0.3129 after jumping over 38% on Friday.
Virpax Pharmaceuticals, Inc. climbed 31% to $0.7660 after the company closed a $2.5 million secured loan financing from an institutional investor, enabling the final payment of its litigation settlement.
LL Flooring Holdings, Inc. surged 20.4% to $0.6789.
Nikola Corporation N rose 18.5% to $10.65.
Grifols, S.A. gained 17.2% to $8.24 after Brookfield confirmed it held exploratory discussions with certain shareholders of the company in relation to a potential joint offer for Grifols’ shares.
Pulse Biosciences, Inc. gained 17.2% to $14.13 after the company announced it received the Breakthrough Device Designation from the FDA for its Cardiac Surgery System for the ablation of cardiac tissue for the treatment of atrial fibrillation.
Newegg Commerce, Inc. climbed 16% to $1.23. Newegg Commerce said the Presale for its tenth annual FantasTech Sales event is now live.
Ocean Power Technologies, Inc. rose 16% to $0.4164 after the company signed a reseller agreement with Survey Equipment Services focused on the provision of OPT’s unmanned surface vehicles in the US.
Mainz Biomed N.V. gained 16% to $0.45.
R1 RCM Inc. shares climbed 14.2% to $12.52.
Acelyrin, Inc. gained 13.6% to $4.60.
NANO Nuclear Energy Inc. N shares gained 12.3% to $31.89 after surging 20% on Friday.
IDEAYA Biosciences, Inc. shares gained 12.1% to $38.41 after the company announced interim Phase 2 monotherapy expansion data for IDE397 in MTAP-deletion urothelial and lung cancer. Additionally, Mizuho initiated coverage on the stock with an Outperform rating.
SolarEdge Technologies, Inc. rose 11.3% to $27.88 after B of A Securities upgraded the stock from Underperform to Neutral.
Corning Incorporated gained 9.4% to $42.05 after the company increased its second-quarter core sales guidance.
Dynatronics Corporation shares rose 8.6% to $0.2310 after declining around 8% on Friday.
Paramount Global rose 4.6% to $21.41. Paramount Global and Skydance Media inked a definitive agreement to create a new entity, "New Paramount," in a $28 billion merger deal.
Intel Corporation gained 3.8% to $33.26. Intel has bypassed Vietnam for a substantial investment project, citing insufficient investment incentives.

Losers

HilleVax, Inc. shares dipped 86.7% to $1.87 after the company announced the NEST-IN1 clinical study did not meet its primary or secondary efficacy endpoints, and the company will discontinue further development of HIL-214 in infants.
Adamas One Corp shares dipped 83% to $0.3360 after dipping over 20% on Friday.
China Liberal Education Holdings Limited shares fell 66.4% to $0.7303 after dipping 24% on Friday.
SYLA Technologies Co., Ltd. fell 31.1% to $2.0950.
Chijet Motor Company, Inc. dipped 28.4% to $5.80.
Ryde Group Ltd. declined 22.8% to $6.33.
Koss Corporation fell 21% to $10.55.
Wetouch Technology Inc. fell 19.5% to $2.57. Wetouch Technologies announced a $15 million stock buyback program to repurchase common stock.
Calidi Biotherapeutics, Inc. declined 19.4% to $0.16
Beneficient B shares fell 15.2% to $4.1050. Beneficient said it will release its fourth quarter financial results before the opening bell on Tuesday, July 9.
ZIM Integrated Shipping Services Ltd. shares fell 15.1% to $18.77.
Vivakor inc shares fell 15% to $1.97.
Inventiva S.A. shares fell 12% to $2.6050 after the company issued an update on its NATiV3 clinical program evaluating lanifibranor in patients with MASH/NASH and its financial position.
Uxin Limited dipped 11.3% to $1.77 after the company announced a partnership with Zhengzhou Airport Industry for the launch of a new used car superstore.
Sirius XM Holdings Inc. fell 10.7% to $3.3099.
The Greenbrier Companies, Inc. dipped 10.6% to $43.37 after the company reported worse-than-expected quarterly financial results.
Qualigen Therapeutics, Inc. shares declined 7.2% to $0.2599 after jumping 60% on Friday.
Assure Holdings Corp. fell 7% to $0.2943.
Zuora, Inc. fell 5.6% to $9.02. Craig-Hallum analyst Chad Bennett downgraded Zuora from Buy to Hold and lowered the price target from $12 to $10.

Now Read This: This Domino’s Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday

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3 Stocks to Buy From the ‘Ultimate’ Buy-and-Hold Portfolio

InvestorPlace

If you’re looking for stocks to buy and hold, I have answers for you, straight from a portfolio that recently appeared in a June 25 article in The Globe and Mail, Canada’s national newspaper.

Freelance columnist Gordon Pape has been writing about investing for as long as I can remember. He’s one of Canada’s longest-serving personal finance and investing authors. He’s written countless books, investment newsletters, and columns like the recent one in the Globe.

Pape launched his Internet Wealth Builder Buy and Hold Portfolio in June 2012. It’s a combination of U.S. and Canadian stocks.

“I used several criteria to choose the stocks. These included a superior long-term growth profile, industry leadership, a good balance sheet, a history of dividend increases, and relative strength in down markets. The objective is to generate decent cash flow (all the stocks pay dividends), minimize downside potential, and provide slow but steady growth. The target rate of return was originally set at 8 per cent annually.”

Sounds pretty good to me.

The current portfolio consists of nine stocks – five Canadian and four U.S. stocks, although they all are listed on U.S. stock exchanges – one bond ETF and a small amount of cash. As Pape said, they all pay dividends.

Here are three I particularly like.

UnitedHealth Group (UNH)

UnitedHealth Group is the second-largest holding in Pape’s IWB portfolio.

UnitedHealth is the largest health insurer in the U.S. with nearly 16% market share, 600 basis points higher than Elevance Health , formerly known as Anthem. UNH stock has taken it on the chin in 2024, down over 9%.

The decline is due to a cyberattack in February against Change Healthcare, the company’s claims processing clearinghouse that it acquired for $13 billion in 2022.

In Q1 2024, the cyberattack cost the company $872 million, with estimates as high as $1.6 billion for the entire year. To make matters worse, it’s facing a possible class action lawsuit because of the attack.

While class action lawsuits are common in a litigious America, they are not a good look for a company that possesses significant amounts of sensitive data.

Nonetheless, the issue will pass, and UNH is expected to bring in $26 billion in annual adjusted net earnings.

Walmart (WMT)

While I thought about selecting Alphabet , Google’s parent, and the third-largest holding in IWB, but Walmart is the world’s biggest retailer, so I went with it instead, the largest of nine stocks in the portfolio.

While some believe Walmart stock is way overvalued and investors should take profits, the reality is that out of the 38 analysts that cover its stock, 32 rated it a “buy,” with a $73 target price, about 8% above where it’s currently trading.

In May, BofA Securities raised its target for Walmart by $8 to $75, based on the view that the company’s long-term profitability will rise due to several factors, including its digital advertising business.

In the end, while it might be expensive, Walmart is a quality company that investors are willing to pay more to own, and that’s unlikely to change anytime soon.

Brookfield Corporation (BN)

Brookfield Corporation is one of Pape’s more successful bets. The average price paid for the alternative asset investor’s stock was 12.75 CAD ($9.35). Due to 345% cumulative gain, BN accounts for 12.7% of the buy-and-hold portfolio, making it the fourth-largest position.

I’ve been a fan of Brookfield CEO Bruce Flatt for a long time. In February 2018, I recommended investors look at the company, which at the time was called Brookfield Asset Management.

In December 2022, Brookfield changed its name to Brookfield Corporation and spun off a 25% interest in the asset management business into a publicly traded company that retained the Brookfield Asset Management name and ticker. Brookfield Corporation then began trading under the BN ticker, retaining 75% of this asset-light, fee-generating business model. Its investors received 0.25 shares in the new BAM for every share held in the old BAM.

Bloomberg reported on July 8 that it was working with the founding family of Grifols SA on a take-private deal for the beleaguered Spanish pharmaceutical and chemical company.

Grifols shares are down 23% in 2024 due to a short seller report from Gotham City Research that said it manipulated its debt and profit figures to keep its share price artificially inflated. In response to the allegations, it hired an outside CEO and a new CFO.

As is often the case, Brookfield is an opportunistic investor.

On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.