Stocks making the biggest moves midday: Sunnova Energy, Cal-Maine Foods, Marathon Petroleum and more - CNBC
Stocks making biggest moves midday: Sunnova, Cal-Maine Foods and more
Market Insider
Stocks making the biggest moves midday: Sunnova Energy, Cal-Maine Foods, Marathon Petroleum and more
Check out the companies making headlines in midday trading.
Fluor Corporation— The engineering and construction company gained 2.4% after UBS upgraded Fluor shares to buy. The Wall Street firm is bullish on Fluor after reaching agreements to complete new projects.
Carnival— Cruise line stocks rose as a group during midday trading. Norwegian Cruise Line added 2.8% and 3.9%, respectively. Royal Caribbean shares gained nearly 3%. Those moves followed a steep decline in oil prices.
Sunnova Energy, Sunrun— Sunnova Energy added 2.2%, while Sunrun declined 1.1% after Truist downgraded the solar stocks to hold from buy ratings, citing near-term concerns from elevated interest rates.
Cal-Maine Foods— Shares slipped 7.3% after the egg producer provided a weak earnings report, citing a dynamic market environment. The company reported fiscal first-quarter earnings of 2 cents per share, missing the consensus estimate of 33 cents per share from analysts polled by FactSet.
Intel— The chipmaker rose slightly by 0.7% after Intel said its programmable chip unit will be a stand-alone business, with an initial public offering planned within the next two to three years.
DexCom, Insulet — Diabetes names DexCom and Insulet fell 3.5% and 3%, respectively, after a study released Tuesday suggested a class of popular weight loss drugs GLP-1 could affect the need for basal insulin. Separately, Insulet said on Tuesday that Wayde McMillan would step down as chief financial officer.
Energy stocks — Energy stocks fell as a group during midday trading Wednesday as oil prices slid more than $3 a barrel. Marathon Petroleum shares were down 3.7%, while Phillips 66 shares dropped 4.5%.
— CNBC's Alex Harring and Samantha Subin contributed reporting.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”