ProAssurance stock soared 48% after acquisition announcement

Several stocks are showing significant changes during midday trading today. Accenture's shares dropped 7% after the company reported disappointing fiscal second-quarter results. It earned $2.82 per share on revenue of $16.66 billion. Analysts had expected similar results, but the performance fell short. Jabil, an electronics manufacturer, saw its shares rise by 5%. The company reported earnings of $1.94 per share and revenue of $6.73 billion, which exceeded analyst expectations. Five Below, a discount retailer, gained 7% after announcing fourth-quarter earnings of $3.48 per share and revenue of $1.39 billion. This was better than what analysts had predicted. Microchip Technology's shares fell by 4.8% after announcing a plan for a $1.35 billion convertible stock offering. Some of the proceeds will be used to manage debt. Coty, the cosmetics company, rose 1.8% following an upgrade to buy from Citi. Analysts believe its upcoming sale of a hair-care brand stake is not fully reflected in its stock price. Carvana's shares increased by 5.7% after an analyst upgrade noted that the company might be safe from potential tariff threats under President Trump. Stellantis, the automaker, dropped 3.6% after being downgraded to neutral by Piper Sandler, citing increasing uncertainty around the company's future. Meta Platforms, the parent company of Facebook, gained 2.5% today, recovering some losses from earlier in the week. PDD Holdings saw its shares rise 3.2% following its fourth-quarter results, although they slightly missed analyst expectations. ProAssurance's shares surged 48% after announcing an acquisition by The Doctors Company for $25 per share, valuing ProAssurance at around $1.3 billion. Rivian's shares fell 3.4% after being downgraded to neutral by Piper Sandler, which cited a lack of catalysts for the company in 2025. Boston Beer’s shares climbed 2.8% after Citi upgraded the stock, predicting improved growth for its Twisted Tea and Truly brands. Darden Restaurants, the parent company of Olive Garden, gained 4.5% despite reporting third-quarter results that slightly missed revenue expectations.