Today’s Most Moving Large Cap Stocks Include CarMax, Coinbase, Moderna, WW International, and Others.
Apr 13, 2023
Stocks were mixed on Tuesday as Wall Street awaited the publication of consumer and producer inflation data.
These stocks moved:
CarMax (KMX) gained 10% after reporting better-than-expected fiscal fourth-quarter results.
After Bitcoin, the world’s largest cryptocurrency, traded above $30,000 for the first time in 10 months, large cap stocks in crypto such as Coinbase (COIN) gained 6.1%, MicroStrategy (MSTR) gained 6.3%, and Marathon Digital (MARA) gained 12%.
Moderna (MRNA) declined 3.1% after the business said that an independent data board determined it was too soon “to declare early success” in one of the biotech’s flu vaccination studies due to insufficient cases.
Other large cap stocks such as WW International (WW) jumped 60% after the weight management business announced the completion of its acquisition of Sequence, a subscription healthcare platform. Goldman Sachs analysts also raised the stock to Buy from Neutral.
Virgin Orbit Holdings (VORB) plummeted 30% after Nasdaq announced plans to delist the space launch start-up’s shares. Virgin Orbit filed for Chapter 11 bankruptcy protection last week.
Adtran (ADTN) shares plunged 24% after the networking and communications business released preliminary results for its first quarter, which included a sales guidance cut.
Tilray Brands (TLRY) slumped 8% after agreeing to purchase Hexo (HEXO), a developer of marijuana products, for $56 million in an all-stock transaction. Tilray will pay around $1.25 per share for Hexo, which has dropped 27.1% to around $1.20. Tilray also revealed fiscal third-quarter earnings that were lower than expected by analysts.
Carrier Global (CARR) shares rose 2.9% after The Wall Street Journal reported Tuesday, citing individuals familiar with the subject, that the air-conditioning giant was working on a proposal to sell or spin off its Fire & Security business division, which accounts for roughly 17% of total revenues.
Whirlpool (WHR) rose 3.8% after Goldman Sachs analysts upgraded the home appliance business to Buy from Neutral, believing that upcoming efforts will enhance revenue and profits.
Automobile large cap stocks such as Ford (F) rose 1.2% after the manufacturer announced a $1.8 billion investment to turn an assembly plant in Ontario into a facility for manufacturing electric vehicles and assembling EV battery packs.
Akamai Technologies (AKAM), a content delivery and security software provider, was raised to Overweight from Neutral by Piper Sandler, with a $93 price target remaining intact. The stock increased by 3.2%.