Midday Stock Movers: Delta, PayPal, AbbVie

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Midday Stock Movers: Delta, PayPal, AbbVie

By Sam Boughedda

Investing.com -- U.S. indices are trading positively Wednesday, with the Nasdaq  the biggest mover around lunchtime at +1.45%. Here are the midday movers on Wednesday, April 13th.

Sierra Oncology Inc (NASDAQ: SRRA ) jumped 38% after agreeing to be bought by GlaxoSmithKline (LON: GSK ) (NYSE: GSK ) for $1.9 billion. GSK shares are trading 0.15% higher.

Antares Pharma Inc (NASDAQ: ATRS ) stock surged 49% after agreeing to be bought by Halozyme Therapeutics Inc (NASDAQ: HALO ) for $960 million, or $5.60 per share, in cash.

Delta Air Lines Inc (NYSE: DAL ) stock trades 4.5% above Tuesday's close after its earnings and revenue beat analyst expectations, benefitting from the travel bounce back. Other airline stocks have also rallied, with American Airlines Group (NASDAQ: AAL ) climbing over 10%.

AbbVie Inc (NYSE: ABBV ) stock declined 4.6% after it was announced Vice Chairman and President Michael Severino will be leaving the company on May 31. In a filing it was stated Severino will be joining a "bioplatform innovation company as CEO-Partner and as CEO of one of its companies."

PayPal Holdings Inc (NASDAQ: PYPL ) stock fell 3.8% after it was revealed Tuesday evening that CFO John Rainey is to depart and join Walmart (NYSE: WMT ). Morgan Stanley said Rainey's departure "may be perceived as negative signaling."

Charles Schwab Corp (NYSE: SCHW ) is now up over 3% after Morgan Stanley named the company a "top pick," adding that its "stark underperformance" is a surprise and reflects a disconnect from the fundamentals.

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