economy
Stocks making the biggest moves midday: Mosaic, Tencent Music, Delta Air Lines, Uber, Eli Lilly & more
Here are some of the stocks making big headlines in midday trading.
TL;DR
- Qualcomm's shares rose after increasing its quarterly dividend and approving a new $20 billion stock repurchase program.
- Six Flags shares jumped on a report that Jana Partners is pushing for a sale and a change in board leadership.
- Janus Henderson Group saw its stock increase following a revised acquisition proposal from Victory Capital.
- Fertilizer company stocks, including Mosaic, CF Industries, and Nutrien, resumed their upward trend due to supply chain concerns related to the Strait of Hormuz.
- Tencent Music Entertainment shares plummeted due to missed consensus estimates for gross margin and monthly active users.
- Airline stocks like Delta Air Lines and American Airlines gained on optimistic first-quarter revenue forecasts, despite rising jet fuel prices.
- Travel stocks Booking Holdings and Expedia also saw significant gains.
- Oil stocks advanced as crude prices rose, with traders wary of a U.S.-backed plan for tankers in the Strait of Hormuz.
- Eli Lilly's stock fell following an HSBC downgrade, with analysts citing concerns about the obesity drug market and company valuations.
- Builders FirstSource shares increased after a director reported a substantial stock purchase.
- Honeywell International's shares dipped slightly, with the CEO stating no immediate impact from Middle East situations.
- Uber's stock gained as the company announced plans to launch robotaxis powered by Nvidia's software in major cities by 2027-2028.