economy
Stocks making the biggest moves midday: SpaceX, Roku, Tripadvisor, Ferrari & more
These are the stocks posting the largest moves in midday trading.
TL;DR
- SpaceX shares were up 9% on their second day of trading after a strong IPO debut.
- Ferrari's stock jumped 5% following an upgrade from Morgan Stanley, citing strong demand for its special and collectible models.
- Tripadvisor's shares rose nearly 7% after selling its European online restaurant reservation platform, The Fork, to American Express.
- American Express stock also rose 4% following the acquisition of The Fork.
- Energy stocks tumbled as U.S. oil prices fell, with several major companies seeing share price decreases.
- Airlines and cruise stocks benefited from lower fuel prices, with notable gains for United Airlines, Delta Air Lines, Norwegian Cruise Line, Carnival Corp., and Royal Caribbean.
- Fox Corp. shares sunk 15% after announcing the acquisition of Roku for $160 per share.
- Micron Technology shares were up more than 9% as technology stocks rallied, boosted by a price target hike.
- Firefly Aerospace and Rocket Lab stocks rose around 5% after an analyst upgrade.
- Freeport-McMoRan's stock was up more than 1% as gold prices rose, driven by investor sentiment shifting away from potential Federal Reserve rate hikes.