Shake Shack Gains, J&J Shares Fall, Newsmax Surges

On this episode of Stock Movers:

- Shake Shack (SHAK) shares rose after Loop Capital Markets upgraded the burger chain’s stock to buy from hold, citing a recent pullback in shares as well as potential upside to the company’s earnings.
- Johnson & Johnson (JNJ) shares fall after a federal judge rejected the health-care products maker’s third attempt to use the bankruptcy of one of its small units to end baby powder cancer claims. Analysts said this added to the overhang on the shares given the uncertainty over how the company will deal with the claims.
- Newsmax (NMAX) shares jump, putting the conservative media outlet’s stock on track to extend gains after it jumped 735% in its debut on Monday. Newsmax Inc.’s debut as a public company has given founder and Chief Executive Officer Christopher Ruddy a fortune of about $3.3 billion.The conservative cable news network sold $75 million of shares at $10 each in Monday’s initial public offering.

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