Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.
Justin Sullivan | Getty Images
Check out the companies making the biggest moves midday:
Rivian Automotive —Shares shed 12% after the electric-vehicle maker announced it would sell $1.3 billion worth of bonds. The capital will help facilitate the launch of Rivian’s R2 vehicles, a spokesperson told Reuters.
Delta Air Lines — Shares rose 2.6% after being upgraded by Evercore ISI to outperform from in line. The firm said it sees several catalysts ahead for the airline and that investors should buy the dip.
United Airlines — United Airlines gained 4.4%, as the broader airline space got a boost after the Justice Department sued to block JetBlue’s acquisition of American Airlines. The stock also got a boost after being upgraded to outperform from underperform by BNP Paribas Exane.
WW International — The small-cap stock rallied 49% after the company formerly known as Weight Watchers announced it would acquire telehealth firm Sequence. The deal could help WW push into the anti-obesity drug market.
Joby Aviation — The electric aircraft maker slid 5.2% after Deutsche Bank downgraded the stock to sell from hold. Analyst Edison Yu said the weight of the aircraft has raised questions and led him to wonder if the design is “overly aggressive.”
Snap — The tech company’s stock gained 4.1%, adding to the 13% it gained on Monday. The move comes as a new bipartisan Senate bill that will give President Joe Biden authority to rein in its competitor, TikTok, is set to be unveiled.
Squarespace — Shares of Squarespace jumped nearly 13% after the website building and hosting company reported fourth-quarter revenue that came in above analysts’ expectations. Squarespace also issued upbeat revenue guidance for the first quarter and full year.
Dick’s Sporting Goods — Dick’s Sporting goods popped 10.9% after the retailer posted better-than-expected results…
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