Check out the companies making headlines in midday trading. JetBlue – Shares sank 13% after the airline said it plans to sell $400 million of five-year convertible senior notes. Hawaiian Electric Industries – Shares plummeted more than 16% after the utility said it does not yet have a financing plan for the $1.7 billion Maui windstorm and wildfire settlement payment. Hawaiian Electric also reported a consolidated net loss of $1.3 billion, or $11.74 per share, in the second quarter, including charges for goodwill impairment. Last year, the company posted a net income of $55.1 million in the period. KeyCorp – The Cleveland-based regional bank surged 13% after Bank of Nova Scotia agreed to take a minority position, making KeyCorp the top performer in the S & P 500 Monday. Under the terms of the deal, Key will receive about $2.8 billion in cash, while Scotiabank will eventually get a 14.9% stake in the lender. Monday.com – Shares surged about 12%, hitting a new 52-week high, after the Israel-based software company posted better-than-expected second-quarter results. Monday.com earned 94 cents per share, excluding items, on revenue of $236.1 million. Analysts polled by FactSet had estimated 56 cents per share on $229 million in revenue. Marathon Digital – The cryptocurrency miner fell about 7% after announcing a $250 million private debt offering of seven-year notes. Starbucks – The coffee chain jumped nearly 4% after the Wall Street Journal reported that activist investor Starboard Value, led by Jeff Smith, has built a stake. Starboard is urging Starbucks to take steps to boost its stock price, the Journal reported, citing unidentified people familiar with the matter. Qualcomm – This chipmaker lost about 2%. Wolfe Research downgraded Qualcomm to peer perform from outperform, citing the impact of Apple using its own internal modem. Robinhood – Shares of the online brokerage gained 2.5% after Piper Sandler upgraded it to overweight from neutral. Piper expects Robinhood to benefit from “continued growth in global retail & derivatives trading” and “generational wealth transfer from baby boomers to their children,” among others, in the long-term. Par Technology – The restaurant technology stock added 1.8% following a Jefferies upgrade to buy from hold. The bank said Par now has scale and momentum supporting it. — CNBC’s Alex Harring, Samantha Subin, Yun Li, Jesse Pound and Michelle Fox contributed reporting.
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