Hot Stocks: AMZN rises on stock split; ORCL, JTKWY climbs; TWTR drops on Elon Musk remarks
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Amazon (NASDAQ:AMZN) stepped into the spotlight in Monday's intraday trading. Shares of the online retailing giant ticked up in the wake of its stock split.
Oracle (ORCL) represented another intraday gainer, climbing on a positive analyst comment. At the same time, Just Eat Takeaway (OTC:JTKWY) posted a double-digit percentage advance on reports that Grubhub's co-founder might be thinking about buying back his former company.
On the downside, Twitter (TWTR) took a step lower amid continued wrangling with Elon Musk.
Gainers
Amazon (AMZN) saw strength in the wake of its stock split, as a more affordable share price may have enticed some retail purchases. The stock advanced about 2% in intraday action.
The uptick followed a 20-for-1 stock split going into effect. AMZN was trading at $124.59 at about 12:30 p.m. ET.
Oracle (ORCL) experienced an intraday advance as well, bolstered by positive commentary from Morgan Stanley. Shares of the enterprise software maker rose 2% after analyst Keith Weiss called the firm an "interesting opportunity" as it has the prospects for "modest revenue acceleration" in fiscal 2023.
Meanwhile, shares of Just Eat Takeaway (OTC:JTKWY) soared 12% on reports that Grubhub co-founder Matt Maloney could want to buy the food delivery giant back from JTKWY. According to the Sunday Times, Maloney has contacted private equity firm General Atlantic but decided against making a bid earlier this year.
Decliner
Twitter (TWTR) lost ground in intraday action amid ongoing concerns about Elon Musk's deal to purchase the company. Shares dropped 3% after Musk said the firm had "materially breached" its obligations under the merger agreement.
The Tesla boss cited his disagreement with TWTR over spam accounts. For its part, the social media giant has said it plans to enforce the merger on agreed-upon terms.

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