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Midday movers: Micron Technology, PDC Energy, PacWest Bancorp and more

Investing.com -- Stocks are mixed as investors await clarity on the direction and outcome of debt ceiling negotiations in Washington. Here are the market movers for May 22.

  • Micron Technology Inc (NASDAQ:MU) shares fell 2.9% after China told companies in its domestic information systems sector to stop buying Micron chips, citing national security concerns.
  • PDC Energy Inc (NASDAQ:PDCE) shares rose 8.6% after oil major Chevron (NYSE:CVX) said it would buy the shale producer with bases in Colorado and Texas for $6.3 billion.
  • PacWest Bancorp (NASDAQ:PACW) shares rose 18% after the regional lender said it would sell a portfolio of 74 real estate construction loans with a balance of around $2.6B to Kennedy-Wilson Holdings (NYSE:KW).
  • Meta Platforms Inc (NASDAQ:META) shares rose 2.1% after European Union privacy regulators fined the Facebook and Instagram social media platform operator $1.3B for sending user information to the U.S.

  • VectivBio Holding AG (NASDAQ:VECT) shares jumped 36% after Ironwood Pharmaceuticals announced a $1B plan to buy it, helping to expand its portfolio of treatments for gastrointestinal ailments.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.