Stocks making the biggest moves midday: JetBlue, Affirm, Genius Sports, Sweetgreen and more

by | Jul 6, 2023 | Financial

A JetBlue Airways Corp. plane departs at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020.Andrew Harrer | Bloomberg | Getty ImagesCheck out the companies making the biggest moves midday:JetBlue Airways — Shares of JetBlue Airways shed 6.4%. On Wednesday, the company announced it would cease its alliance with American Airlines in the northeastern U.S. after a federal judge ordered an end to the partnership in May. JetBlue said it will instead focus on its acquisition of Spirit Airlines. American shares lost 2.8%, while Spirit dipped 0.3%.Affirm — Shares of the point-of-sale lender slid about 15% after Piper Sandler downgraded Affirm to underweight from neutral. Higher interest rates and the resumption of student loan payments could hurt the stock in the months ahead, Piper Sandler said.Sweetgreen — The salad chain jumped 17% following an upgrade to buy from neutral by Bank of America. The firm said increased foot traffic, sustained growth of in-store sales and long-term automation plans should all help the stock.Ford Motor — The automaker’s stock dropped roughly 2.5%, despite Ford reporting a 9.9% second-quarter sales increase from a year earlier. Sales of its F-Series trucks jumped 34% compared to the prior year. However, its electric vehicle sales declined 2.8%.Keurig Dr Pepper — Shares gained about 2% following an upgrade by Morgan Stanley to overweight from equal weight. The firm said the stock’s valuation was too low amid highly visible refreshment beverage trends.Bank of America — The bank stock dropped 3%. Bank of America announced after the bell Wednesday it was increasing its quarterly dividend to 24 cents per share from 22 cents. The increase of roughly 9% puts the bank’s dividend yield at about 3.3%, based on Wednesday’s closing price.Genius Sports — Shares soared more than 20% after the company announced it came to an agreement with the National Football League to a multi-year extension of their existing strategic partnership. Genius will remain the NFL’s exclusive distributor of real-time statistics.Moderna — The pharma stock fell 4.5% in midday trading. On Wednesday, Moderna announced a deal to develop mRNA drugs in China, despite rising tensions between the U.S. and China.— CNBC’s Samantha Subin, Alex Harring and Jesse Pound contributed reporting. …

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