Stocks making the biggest moves midday: Sunnova Energy, Cal-Maine Foods, Marathon Petroleum and more

Stock Market

The Fluor Corporation logo is displayed on a smartphone.
Sopa Images | Lightrocket | Getty Images

Check out the companies making headlines in midday trading.

Fluor Corporation — The engineering and construction company gained 2% after UBS upgraded Fluor shares to buy. The Wall Street firm is bullish on Fluor after reaching agreements to complete new projects.

Carnival — Cruise line stocks rose as a group during midday trading. Carnival and Norwegian Cruise Line added more than 3% each. Royal Caribbean shares gained more than 2%. Those moves followed a steep decline in oil prices.

Sunnova Energy, Sunrun — Sunnova Energy and Sunrun dropped 5.4% and 6.5%, respectively, to trade near 52-week lows after Truist downgraded the solar stocks to hold from buy ratings, citing near-term concerns from elevated interest rates.

Cal-Maine Foods — Shares slipped 6.6% after the egg producer provided a weak earnings report, citing a dynamic market environment. The company reported fiscal first-quarter earnings of 2 cents per share, missing the consensus estimate of 33 cents per share from analysts polled by FactSet.

Intel — The chipmaker rose slightly after Intel said its programmable chip unit will be a stand-alone business, with an initial public offering planned within the next two to three years.

DexCom, Insulet — Diabetes names DexCom and Insulet fell 5% and 3%, respectively, after a study released Tuesday suggested a class of popular weight loss drugs GLP-1 could affect the need for basal insulin. Separately, Insulet said on Tuesday that Wayde McMillan would step down as chief financial officer.

Energy stocks — Energy stocks fell as a group during midday trading Wednesday as oil prices slid more than $3 a barrel. Marathon Petroleum shares were down 3.9%, while Phillips 66 shares dropped 4.7%.

— CNBC’s Alex Harring and Samantha Subin contributed reporting.

Articles You May Like

States feeling budget pressure
Alexander real estate brothers, sibling raped ‘dozens of victims,’ federal indictment alleges
Assad flees Syria for Moscow as rebels seize Damascus
Argentina: has Javier Milei proved his critics wrong?
Asset management firm to buy bankrupt Greenwich Investment Management