Stocks making the biggest moves midday: Dollar Tree, Amazon, FedEx and more
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Check out the companies making headlines in midday trading.
Amazon — Shares of the online retail giant slumped 1.3% after the Federal Trade Commission said it was suing Amazon over allegations of deceptively pushing customers to sign up for Prime and frustrating their efforts to cancel.
FedEx — The delivery company fell 1.7% after quarterly revenue missed expectations and announced CFO Mike Lenz would retire on July 31. The company posted revenue at $21.93 billion, below the consensus estimate of $22.67 billion, according to Refinitiv. Adjusted earnings were better than expected at $4.94 per share against the anticipated $4.89, while forward guidance was around flat.
Coinbase, Riot Platforms — Coinbase added 2.1%, while crypto miner Riot popped 4.7%. The jumps come despite multiple challenges for Coinbase recently including disagreements with the Securities and Exchange Commission and BlackRock's launch of a bitcoin exchange-traded fund.
MicroStrategy — Shares of the enterprise software company jumped more than 5%. The move coincides with a 7% pop in bitcoin. MicroStrategy has made a big bet in the cryptocurrency.
Tesla — The electric vehicle maker slid 4.2% following a downgrade to equal weight from overweight by Barclays. The firm said it may be time to take profits after recent outperformance. Rivian tumbled 6.7%, a day after the company said customers would have access to Tesla's charging network beginning next year
GlaxoSmithKline — Shares moved 1.3% higher after the biopharma company said its respiratory syncytial virus vaccine to protect adults ages 60 and older remained effective across two RSV seasons.
Petrobras — U.S. shares of the Brazilian oil giant gained 4.2% after Goldman upgraded them to
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