Stocks making the biggest moves midday: JetBlue, Affirm, Genius Sports, Sweetgreen and more
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Check out the companies making the biggest moves midday:
JetBlue Airways — Shares of JetBlue Airways shed 6.4%. On Wednesday, the company announced it would cease its alliance with American Airlines in the northeastern U.S. after a federal judge ordered an end to the partnership in May. JetBlue said it will instead focus on its acquisition of Spirit Airlines. American shares lost 2.8%, while Spirit dipped 0.3%.
Affirm — Shares of the point-of-sale lender slid about 15% after Piper Sandler downgraded Affirm to underweight from neutral. Higher interest rates and the resumption of student loan payments could hurt the stock in the months ahead, Piper Sandler said.
Sweetgreen — The salad chain jumped 17% following an upgrade to buy from neutral by Bank of America. The firm said increased foot traffic, sustained growth of in-store sales and long-term automation plans should all help the stock.
Ford Motor — The automaker's stock dropped roughly 2.5%, despite Ford reporting a 9.9% second-quarter sales increase from a year earlier. Sales of its F-Series trucks jumped 34% compared to the prior year. However, its electric vehicle sales declined 2.8%.
Keurig Dr Pepper — Shares gained about 2% following an upgrade by Morgan Stanley to overweight from equal weight. The firm said the stock's valuation was too low amid highly visible refreshment beverage trends.
Bank of America — The bank stock dropped 3%. Bank of America announced after the bell Wednesday it was increasing its quarterly dividend to 24 cents per share from 22 cents. The increase of roughly 9% puts the bank's dividend yield at about 3.3%, based on Wednesday's closing price.
Genius Sports — Shares soared more than 20% after the company announced it came
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