Mondelez – COOPER GENERAL NEWS

Dirk Van de Put, CEO of Mondelez, described the latest acquisition on Thursday as a “win win” for both companies involved in the deal.

The oreo maker announced on Wednesday that it had acquired Chipita, a Greek company whose croissants and baked snacks contributed to sales of $ 580 million last year. The purchase will give Mondelez back approximately $ 2 billion, which will be funded through new debt issuance and existing cash on hand.

“We can use their sales and presence to build our sales, but also to bring our brands to their products,” Van de Put told CNBC’s Jim Cramer about Mad Money. “Imagine a Cadbury chocolate or Milka chocolate croissant.”

Van De Put said that while Chipita’s products are mostly popular in Eastern Europe, they have growth potential around the world, particularly in emerging markets.

“I think it’s a real win-win,” he said.

Mondelez’s shares are up 8% this year for a market value of $ 89.2 billion.

Daniel Acker | Bloomberg | Getty Images

These stocks make some of the biggest moves in midday trading:

Mondelez International – Mondelez, which owns snack brands like Oreo and Ritz, was down 2% despite better-than-expected gains. According to Refinitiv, Modelez earned 67 cents per share, beating estimates by one cent. Revenues of $ 7.30 billion were above expectations of $ 7.16 billion.

Chevron – The oil giant’s stocks fell more than 3% after falling short of analysts’ expectations for sales and earnings in the fourth quarter. Excluding items, the company recorded a loss of one cent per share, according to analysts surveyed by Refinitiv, which was below the expected profit of 7 cents per share. Revenue was $ 25.25 billion, also below the expected $ 26.2 billion.

GameStop, AMC Entertainment, Koss – stocks targeted by a legion of retail investors this week continued their feverish surge on Friday. Names like video game retailer GameStop and headphone maker Koss rose on the last trading day of the week. By 11:38 a.m. ET, GameStop was up 62%, AMC was up 61%, and Koss stock had doubled in value.

Johnson & Johnson – The drugmaker’s shares were down 3.9% after phase three data showed the company’s Covid-19 vaccine was 72% effective in the US but other regions, including South Africa less effective. Mutations in the virus, including one found in South Africa, have raised concerns that vaccines cannot stop various strains of Covid.

Novavax – Novavax shares rose more than 65% in midday trading after the biotech announced Thursday that its Covid-19 vaccine candidate had an 89.3% effectiveness in a UK study. If the stock ended the day at its current price, it would be Novavax’s highest closing price since August 2015.

Skyworks Solutions – Skyworks stock rose 8.3% after earnings results were released Thursday and a forecast that exceeded analysts’ expectations. The semiconductor components company posted net income of $ 509.3 million for the first quarter compared to $ 257.1 million a year earlier. Skyworks also announced a share buyback program.