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Midday Stock Trading: Largest Moves

View the companies grabbing attention during noon trade.

Redwire – After Roth MKM began research coverage of the company with a buy rating on Wednesday, the stock of the space infrastructure company rose 14%. Redwire, which went public in 2021 through a special purpose acquisition company, has “many billions worth of pipeline revenue possibilities,” according to the business.

Reklemel, a new product that will aid in defending a number of food and row crops from harm by plant-parasitic nematodes, was introduced by Corteva on Wednesday. The provider of seed and crop protection solutions had its share price rise 1.8% during lunchtime trading after the announcement.

Moderna – The vaccine producer’s stock increased by around 2.3%. The decision was made a day after the U.S. Food and Drug Administration gave its approval for improved Covid vaccinations from Pfizer and Moderna to be given to Americans 6 months of age and older. The mRNA vaccines are made to target an XBB.1.5 subvariant of the omicron, which is a relatively novel subvariant.

Citigroup — Following the bank’s CEO Jane Fraser’s announcement of a corporate restructuring on Wednesday amid a stock market decline, shares rose 2%. With this change, Citigroup will have five main divisions instead of its previous two, which catered to institutional and consumer customers.

Adobe: The software company’s stock increased roughly 2% in lunchtime trading ahead of Thursday’s quarterly reports. FactSet polled analysts who made predictions for an adjusted $3.98 per share on $4.866 billion in revenue. Due to the ongoing excitement surrounding artificial intelligence, traders have also expressed a bullish outlook for the company ahead of earnings.

Source (CNBC)

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