Lordstown Motors – After declaring bankruptcy, the stock of the troubled manufacturer of electric trucks fell by more than 17%. In addition, Lordstown is suing Foxconn for a $170 million finance arrangement.
Shares of Walgreens Boots Alliance fell 9.3% after the retail pharmacy chain revised its full-year earnings projection downward from its earlier forecast of $4.45 to $4.65 per share to $4 to $4.05 per share. Additionally, Walgreens announced adjusted profits per share for the third quarter of its fiscal year of $1, falling short of the $1.07 Refinitiv projection.
Shares of Delta Air Lines increased 6.8% after the airline forecasted full-year earnings of $6 per share, which was at the upper end of the previously established range. Strong demand and passengers choosing more costly fare classes, according to Delta, have aided the airline.
American Equity Investment Life: Following a Bloomberg News story that Canadian investment firm Brookfield was close to concluding a deal to acquire American Equity Investment Life for roughly $4.3 billion, the insurance company’s stock increased by about 17.2%.
Carnival increased 8.8%, reversing course after falling on Monday. The cruise company provided good guidance along with a second-quarter deficit that was less than anticipated. Following Monday’s decline, Royal Caribbean and Norwegian made gains of 4.3% and 5.7%, respectively.
Generac: After CEO Aaron Jadgfeld reportedly told Bloomberg News that the company was experiencing a “dramatic increase” in demand in the Texas region, the generator stock increased by 8.8%.
Roblox — The video game hub saw a 6.7% increase after Bank of America confirmed its buy recommendation, citing the stock as a market leader in the Metaverse sector.
Meta Platforms – After Citi confirmed its buy rating, the significant technology stock increased 3.1%. The company expressed particular scepticism about Reels.
Kellogg – Kellogg’s share price increased 1.7% as a result of Goldman Sachs upgrading the company from neutral to buy. Given the potential for growth for investors, the Wall Street company claimed that the shares were mispriced.
After Oppenheimer confirmed its outperform recommendation ahead of earnings later this week, the athletic retailer Nike saw a 1.7% increase.
Shares of Frontier Communications increased by 8.1% after Wolfe Research began covering the stock at an outperform rating. According to Wolfe, the business offers the best reliability and speed.
Coterra Energy – Coterra increased 1.3% as a result of JPMorgan upgrading it from neutral to overweight. Shares, according to JPMorgan, are fairly valued.
Unity Software – The price of the gaming software stock increased by 15.4% after Wells Fargo began to cover the company. The more positive aspects of Unity’s company have been overshadowed by negative perceptions about the metaverse, according to a statement to customers from Wells Fargo.
Saia — On the strength of Evercore ISI’s upgrade to outperform from in line, the transportation stock increased by 6.3%. According to the business, risk appears to be upside-biased.
Shares of Wingstop increased 3.9% after Northcoast upgraded it from neutral to buy, citing the potential for the growth story to maintain it as the market leader.
– Cars.com Following JPMorgan’s launch of the online auto market at overweight, shares increased 5.9%. The company referred to the shares as a secure haven in this challenging macroeconomic environment.
In this challenging macroeconomic situation, hide.
— Jesse Pound and Michelle Fox from CNBC provided additional reporting.