Stocks making the biggest moves midday: Lordstown Motors, Walgreens Boots Alliance, Delta and more
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Check out the companies making headlines in midday trading.
Lordstown Motors — The embattled electric truck maker dropped more than 30% after filling for bankruptcy. Lordstown is also suing Taiwanese manufacturer Foxconn over a $170 million funding deal.
Walgreens Boots Alliance — Shares tumbled nearly 9% after the retail pharmacy chain lowered its full-year earnings guidance to $4 to $4.05 per share from its previous forecast of $4.45 to $4.65 per share. Walgreens also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07.
Delta Air Lines — Shares rose 3.3% after the airline put its forecast for full-year earnings at $6 per share, at the high end end of the previously set range. Delta said it has been helped by strong demand and customers opting for more expensive fare classes.
American Equity Investment Life — The insurance firm's stock popped about 17% following a report by Bloomberg News that Canadian investment firm Brookfield was close to making a deal to buy American Equity Investment Life for approximately $4.3 billion.
Cruise stocks — Carnival climbed 6.4%, reversing course after tumbling Monday. The cruise line reported a smaller than expected loss for its second quarter, while also giving strong guidance. Royal Caribbean and Norwegian advanced 2.5% and 4.1%, respectively, after also taking a leg down on Monday.
Generac — The generator stock climbed 7% after Bloomberg News reported that Generac CEO Aaron Jadgfeld said the company was seeing a «dramatic increase» in demand in the Texas region.
Roblox — The gaming platform popped 5.8% after Bank of America reiterated its buy rating, saying the stock is a leader in the Metaverse category.
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