Poshmark Inc. signage outside the Nasdaq MarketSite through the company’s initial public offering (IPO) in Latest York, U.S., on Thursday, Jan. 14, 2021.
Michael Nagle | Bloomberg | Getty Images
Take a look at the businesses making headlines in midday trading.
Twitter — Shares of Twitter surged 22.24% after a report that Elon Musk plans to undergo with the acquisition of the corporate at $54.20 per share, the originally agreed-upon price. Trading of the corporate’s stock was halted pending news around midday Tuesday.
related investing news
Cathie Wood snaps up $32 million price of Tesla shares after sell-off
Rivian — Shares of the electrical vehicle maker shot up 13.83% after the corporate said Monday that third-quarter production jumped 67% in comparison with the prior quarter. The corporate stays heading in the right direction to fulfill the production goal it set in March after halving previous estimates as a consequence of global supply chain issues.
Poshmark — Shares of the net retail site surged 13% midday after the corporate struck a take care of South Korean web giant Naver to be acquired for about $1.2 billion. The merger could help Naver deepen its reach in online retail and permit Poshmark expand internationally.
Illumina — The biotech stock jumped greater than 9.52% after SVB Securities upgraded Illumina to outperform from market perform, citing the potential of latest sequencing innovations called the NovaSeq X Series to drive upside in 2024 and beyond, based on FactSet’s StreetAccount.
Travel stocks — Shares of airline and cruise line stocks surged Tuesday and were amongst leaders within the S&P 500. These stocks are volatile and sensitive to big swings in markets overall. Norwegian Cruise Line jumped 16.8%. Royal Caribbean and Carnival gained 16.7% and 13.2%, respectively. Delta Air Lines and American Airlines each advanced greater than 8%.
Gilead Sciences — Shares of the biopharma stock gained 4.8% after JPMorgan Chase upgraded Gilead Sciences to obese. The bank said investors are undervaluing its growth potential and the stock could rally nearly 30%
Domino’s Pizza — Shares of the pizza chain rose 4.5% after UBS upgraded the stock to purchase from neutral. The investment firm said that Domino’s should see demand delay even when consumer spending weakens overall.
Credit Suisse — Shares of Credit Suisse jumped 12.2% after whiplashing in Monday trading following a report over the weekend that said the bank was assuring major investors of its financial well-being amid concerns.
Tesla — Shares of electrical vehicle maker Tesla rose 2.9% Tuesday, rebounding from a pointy loss in Monday’s session after announcing disappointing third-quarter delivery numbers. Tesla’s stock slumped 8% Monday, its largest drop since June 3.
Rocket Pharmaceuticals — Shares of Rocket Pharmaceuticals jumped 11% after the corporate announced plans for a $100 million stock offering. The plan gives underwriters a 30-day opportunity to buy as much as $15 million price of additional shares.
General Motors — Shares of automaker General Motors gained 8.9% after the corporate announced sales rose 24% within the third quarter, rebounding from 2021 when supply chain issues hindered production.
Ford Motor — The Detroit automaker rallied 7.7% after reporting a 16% increase in third-quarter sales compared with a 12 months earlier, despite September sales declining greater than expected. Ford said recent vehicle demand “stays strong.”
— CNBC’s Michelle Fox, Alex Harring, Tanaya Macheel, Sarah Min, Jesse Pound and Samantha Subin contributed reporting.