Ford, Snap, Virgin Galactic and more
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Ford Motor Co. F-150 pickup trucks, manufactured in 2021, are seen waiting to receive missing parts at Dearborn, Michigan on March 29, 2021.
Rebecca Cook | Reuters
Take a look at the top midday traders.
Ford — Shares jumped about 4% as the automaker’s market cap topped $100 billion for the first time Thursday. This rally is due to the fact that the automaker plans to boost electric vehicle production. Mustang Mach-E crossover and an upcoming electric version of its best-selling F-150 pickup. Deutsche Bank named Ford also one of their top ten clients. top 2022 auto stock picks.
Delta Air Lines – The airline’s stock rose about 3% in midday trading after beating on the top and bottom lines of its quarterly results. Delta earned 22 cents per Share on revenues of $9.47 Billion. According to Refinitiv, Wall Street was expecting adjusted earnings of 14c per share for revenue $9.21 billion. Refinitiv also stated that the company expects to make a profit by 2022.
Boeing – Shares gained 3% after Chinese aviation regulators issued a directive to bring the aircraft maker’s 737 Max back to the skies. Since the second fatal crash in 2008, they have been grounded since.
KB Home – The homebuilder’s stock soared 14% after reporting better-than-expected quarterly results. According to Refinitiv, KB Home earned $1.91 per share. This is higher than the $1.77 average. KB Home issued a positive outlook to 2022.
Snap – Shares fell more than 6% after Cowen downgraded the social media stockTo market perform. Snap must continue to be challenged by Apple’s privacy regulations, according to the firm.
Virgin Galactic – The stock plunged 18.2% after the space tourism company announced plans to raise up to $500 million in debt. With the proceeds from the 2027 convertible senior note sales, $425 million will be raised. A private offering of 75 million is also planned.
Moderna – The vaccine maker saw its shares fall 4.3% after the company said it expects to report data from its Covid-19 vaccine trials involving 2- to 5-year-olds by March. It stated that it could apply for approval to vacinate this age group, if data are supportive.
Virgin Orbit – Shares jumped more than 4% as the company was set for a satellite launch missionThursday afternoon
Taiwan Semiconductor – Shares rose 6.9% after the chipmaker’s fourth-quarter profit and revenue topping beat StreetAccount consensus estimates. It also gave a positive outlook.
Halliburton – The energy giant rose 2.5% to a new 52-week high after JPMorgan upgraded the stock to overweight from neutral. JPMorgan stated that they see greater earnings upside as well as a better relative valuation in the ‘normalized framework’.
Mattel – Shares gained more than 3% after MKM upgraded the toymaker to buy from neutral. MKM indicated that they expect Mattel to continue its positive momentum in 2022 thanks to Mattel’s product portfolio.
— CNBC’s Maggie Fitzgerald, Pippa Stevens and Tanaya Macheel contributed reporting
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