See which businesses are generating news during noon trade.
After UBS raised Fluor Corporation shares to a buy rating, the engineering and construction firm saw a 2% increase. Since agreements have been reached to execute new projects, the Wall Street business is optimistic about Fluor.
During lunchtime trading, shares of the cruise line Carnival gained collectively. Increases of more than 3% were made by both Carnival and Norwegian Cruise Line. More than 2% was added to Royal Caribbean’s stock price. An abrupt drop in oil prices was followed by such actions.
Sunnova Energy, Sunrun — After Truist downgraded the solar stocks from buy to hold, citing near-term worries about rising interest rates, Sunnova Energy and Sunrun fell 5.4% and 6.5%, respectively, to trade close to 52-week lows.
Foods by Cal-Maine — Following a disappointing results report from the egg producer that cited a volatile market environment, shares fell 6.6%. The company’s fiscal first-quarter results came in at 2 cents per share, falling short of FactSet’s consensus forecast of 33 cents per share from experts surveyed.
The chipmaker Intel saw a little increase after announcing that its division for programmable chips will operate independently, with an IPO anticipated within the next two to three years.
Insult and DexCom Following the publication of a study on Tuesday that revealed a popular class of weight-loss treatments called GLP-1 may have an impact on the requirement for basal insulin, the prices of the diabetes medications Insulet and DexCom dropped by 5% and 3%, respectively. Separately, Insulet announced on Tuesday that Wayde McMillan will leave his position as chief financial officer.
Energy stocks — A group of energy stocks declined during Wednesday’s noon session as oil prices dropped by more than $3 a barrel. Shares of Phillips 66 fell 4.7%, while those of Marathon Petroleum fell 3.9%.
Source (CNBC)
