Stocks making the biggest moves midday: Wynn Resorts, Planet Fitness, AMC, Lyft and more
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Check out the companies making headlines in midday trading.
Las Vegas Sands, Wynn Resorts — Shares of the casino operators both soared about 11% after Macao announced its plan to allow Chinese tour groups back in the casinos as soon as November. The Macau government said that it will resume visitation access from Mainland China through tours and e-visa in a few months. Jefferies upgraded the duo to buy from hold following the reopening announcement.
Li Auto, Xpeng — The Chinese electric vehicle makers all saw shares increase after Beijing announced an extension of tax breaks on electric vehicles. Xpeng went up about 3%. Li, a competitor, jumped about 5.5% despite cutting guidance for the third quarter.
Chegg — Shares of the educational tech company jumped more than 6% after Needham upgraded the company to a buy rating from hold. The firm has a $28 price target on Chegg's shares, representing 48% upside from Friday's close.
Vertical Aerospace — The Bristol, England-based builder of electric vertical take-off and landing aircraft test flew its VX4 eVTOL model for the first time over the weekend, while tethered to the ground. Shares slumped 8%.
Atlas — Shares of the asset management company increased 3.7% following a statement from Poseidon Acquisition that it had increased its bid to $15.50 per share, up from $14.45. Poseidon called the bid its «final and best offer.»
Core Laboratories — Shares of the energy company fell 3.4% after Morgan Stanley downgraded Core Laboratories to underweight from equal weight. Morgan Stanley said that Core appeared to have less upside for free cash flow than its peers and an outsized international exposure that could weigh on results.
Planet Fitness — The gym stock jumped 2%
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