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Paycor (PYCR) Shares Skyrocket, What You Need To Know
Shares of online payroll and human resource software provider Paycor (NASDAQ:PYCR) jumped 26.1% in the morning session after Bloomberg reported that Paychex, a competitor, is in discussions to acquire the company (Paycor). Sources indicate that negotiations are ongoing, and a deal has not yet been finalized.
Why Are Carvana (CVNA) Shares Soaring Today
Shares of online used car dealer Carvana (NYSE: CVNA) jumped 5.6% in the morning session after the company announced new financing terms with Ally Financial. Under the agreement, Ally will purchase roughly $4 billion in auto finance receivables over the next year. By selling the receivables to Ally, Carvana receives cash, which is more readily available to be invested back into the business. This announcement addresses concerns raised by short seller Hindenburg Research regarding the sustainability of Carvana's relationship with Ally. Overall, the update provides a more positive outlook on Carvana's liquidity and clarifies key uncertainties, which the market does not like.
Why Is Asana (ASAN) Stock Rocketing Higher Today
Shares of work management software maker Asana (NYSE: ASAN) jumped 9.2% in the morning session after Piper Sandler analyst Brent Bracelin upgraded the stock's rating from Neutral to Overweight (Buy) and raised the price target from $19 to $27. The upgrade was based on "the company's stabilization, cost management, and promising AI innovations."