Market recap: Hopes of easing trade tensions sends mining company's stock up

September 14, 2019 at 5:38AM
FILE- This Feb. 23, 2018, file photo shows a Wendy's restaurant in Pittsburgh. Wendy’s said Monday, Sept. 10, 2019 it’s relaunching breakfast across the U.S. next year, the latest fast-food chain to amp up its offerings as more consumers eat out in the morning. (AP Photo/Gene J. Puskar, File)
Wendy’s shares took a hit after it announced it would spend $290 million on breakfast expansion. (The Minnesota Star Tribune)

Trade boost: Mining company Freeport-McMoRan climbed 3.8% to $10.76 Friday as easing trade tensions between Washington and Beijing led to a spike in copper prices.

Upgrade bounce: PayPal shares rose 2.9% to $107.10 Thursday after its stock was upgraded to buy by a Canaccord Genuity analyst. Shares closed the week at $107.

Breakfast money: Wendy's fell 10.4% to $19.67 Tuesday after the fast-food chain cut its profit growth forecast because of plans to invest $290 million to expand breakfast options. Shares closed Friday at $19.42.

Engine trouble: Ford fell 4.1% to $9.15 Tuesday after credit-rating service Moody's cut the automaker's credit rating to junk status on fears that the company will be weighed down by weak earnings as it restructures. Shares closed Friday at $9.45.

Energized: Halliburton rose 5.6% to $20.11 Monday as a rise in the price of crude oil buoyed energy-company stocks. Shares closed Friday at $20.27.

All shook up: AT&T jumped 2.4% to $37.12 in heavy trading Monday after Elliot Management, an activist investor, announced a $3.2 billion stake in the company and called for a shake-up. The shares closed the week at $37.91.

Arcade mire: Dave & Buster's Entertainment fell 5.7% to $41.22 Wednesday after the restaurant and arcade operator cut its sales forecast for the year. The company is facing increased competition. The downturn hit food and beverage sales especially hard during the second quarter. Shares closed the week at $41.35.

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The Minnesota Star Tribune has previously reported on pandemic-era fraudsters stealing from the Small Business Administration.