Stocks making the biggest moves midday: Rivian, Cava, Rocket Lab, Amgen and more
Here’s a midday trading report featuring top companies you need to know about:
Charter Communications and Liberty Broadband are in the news as Charter agreed to buy Liberty Broadband with an all-stocks deal, causing their shares to fluctuate.
Cava Group’s stock jumped 7% post third-quarter results that beat expectations. The Mediterranean-inspired food chain reported a 15 cent earnings per share, surpassing the 11 cent consensus estimate.
Rocket Lab saw a massive 35% surge in shares after posting impressive third-quarter revenue results and unveiling the first client for its Neutron vehicle.
Maplebear, the parent company of Instacart, saw a 12% drop in shares due to a lower-than-expected projected EBITDA for the fourth quarter.
Skyworks Solutions saw a 4% setback in shares after presenting a weaker fiscal first quarter forecast than anticipated.
Flutter Entertainment’s stocks increased by 6% after reporting better-than-expected third-quarter results. The online gambling company’s revenue stream, particularly from its U.S. arm – Fanduel, saw a significant bump.
Spotify Technology shares rose by 11% after releasing promising fourth-quarter profit forecasts. Its active users for the third quarter outnumbered projections.
Rivian Automotive became a market sensation with an 18% rise in shares after announcing a joint venture with Volkswagen Group valued at $5.8 billion.
Amgen’s shares increased by 1% following a statement asserting no connection between its experimental weight loss injection, MariTide, and changes in bone mineral density.
SoundHound AI took a hit with a 17% decrease in shares. The company issued lower-than-expected revenue projections for 2024.
In a dramatic fall, Spirit Airlines’ shares plummeted by 57% amid bankruptcy rumors following failed merger negotiations with Frontier Group Holdings.
