PRISM Market Momentum: Stocks on the Move on Tuesday; JetBlue Soars on Icahn Investment, Avis and Krispy Kreme Stumble

US equities are under pressure on Tuesday at midday, with small-caps lagging and big tech a notable drag today. Outperformers include energy, P&C insurers, life sciences, food, and A&D, while media, software, banks, retail, travel/leisure, and autos/suppliers are underperforming. Treasuries are weaker, the Dollar index is up +0.5%, Gold is down (1.3%), Bitcoin futures are down (2.5%), and WTI crude is up +1.0%.

Notable gainers at midday are TripAdvisor ($TRIP) which has risen +14.6% after announcing the formation of a special committee to review proposals that may be brought forward for a potential transaction. JetBlue Airways ($JBLU) is up +13.2% after billionaire Carl Icahn declared a 9.9% stake in the company. Reports note that Mr. Icahn believes JetBlue’s shares are undervalued and that he has had talks with the company about taking a seat on the board of directors. WK Kellogg ($KLG) has gained +11.1% on strong Q4 earnings.

The day’s decliners are Avis Budget Group ($CAR) which has lost (16.1%) after missing Q4 EBITDA and revenue. The company cited higher than expected per-unit fleet costs in both Americas. Krispy Kreme ($DNUT) is down (7.4%) on weak Q4 earnings, and Shopify ($SHOP) has dropped (7.1%) on Q4 earnings, beating EPS, operating income, and revenue. Analysts are cautious on operating income.