Stocks making the biggest moves midday: Ford, Snap, Virgin Galactic and more

In this article

Newly manufactured Ford Motor Co. 2021 F-150 pick-up trucks are seen waiting for missing parts in Dearborn, Michigan, March 29, 2021.
Rebecca Cook | Reuters

Check out the companies making headlines in midday trading.

Ford — Shares jumped about 4% as the automaker’s market cap topped $100 billion for the first time Thursday. The rally comes as the company plans to increase electric vehicle production, including the Mustang Mach-E crossover and an upcoming electric version of its best-selling F-150 pickup. Deutsche Bank also named Ford one of its top 2022 auto stock picks.

Delta Air Lines – The airline’s stock rose about 3% in midday trading after beating on the top and bottom lines of its quarterly results. Delta earned an adjusted 22 cents per share on revenue of $9.47 billion. Wall Street expected adjusted earnings of 14 cents per share on revenue of $9.21 billion, according to Refinitiv. The company also said it expects to turn a profit in 2022.

Boeing – Shares gained 3% after Chinese aviation regulators issued a directive to bring the aircraft maker’s 737 Max back to the skies. The planes have been grounded for more than two and a half years, after the second of two fatal crashes.

KB Home – The homebuilder’s stock soared 14% after reporting better-than-expected quarterly results. KB Home reported earnings of $1.91 per share, topping estimates of $1.77 per share, according to Refinitiv. KB Home also issued a positive outlook for 2022.

Snap – Shares fell more than 6% after Cowen downgraded the social media stock to market perform. The firm said Snap should continue to face challenges from Apple’s privacy rules.

Virgin Galactic – The stock plunged 18.2% after the space tourism company announced plans to raise up to $500 million in debt. The company intends to raise $425 million from the sale of 2027 convertible senior notes through a private offering, with an additional $75 million option also expected to be granted to buyers.

Moderna – The vaccine maker saw its shares fall 4.3% after the company said it expects to report data from its Covid-19 vaccine trials involving 2- to 5-year-olds by March. The company could file for approval to vaccinate that age group if the data is supportive, it said in a statement.

Virgin Orbit – Shares jumped more than 4% as the company was set for a satellite launch mission Thursday afternoon.

Taiwan Semiconductor – Shares rose 6.9% after the chipmaker’s fourth-quarter profit and revenue topping beat StreetAccount consensus estimates. The company also issued an upbeat outlook.

Halliburton – The energy giant rose 2.5% to a new 52-week high after JPMorgan upgraded the stock to overweight from neutral. “We see more earnings upside and a more attractive relative valuation under our ‘normalized’ framework,” JPMorgan said.

Mattel – Shares gained more than 3% after MKM upgraded the toymaker to buy from neutral. “We look for continued positive momentum from Mattel’s product portfolio in 2022,” MKM said.

— CNBC’s Maggie Fitzgerald, Pippa Stevens and Tanaya Macheel contributed reporting

Products You May Like

Articles You May Like

Doing Tax Policy at the Ballot Is Not for the Faint of Heart
Biden administration awards $1.5 billion to fight opioid crisis
Ethereum Could Be In Trouble With The SEC
Lauren Taylor Wolfe says it’s just too risky for investors to ignore ESG amid recent pushback
Mortgage demand rises for the first time in six weeks, despite sharply higher interest rates

Leave a Reply

Your email address will not be published.