Stocks making the biggest moves midday: Rivian Automotive, FedEx, Whirlpool and more

by | Jun 26, 2024 | Financial

Check out the companies making headlines in midday trading: Rivian Automotive — The stock surged more than 20% following the announcement that the electric vehicle startup secured a $5 billion investment from Volkswagen Group. Volkswagen’s initial investment will be $1 billion in the form of a convertible note, with the additional $4 billion expected by 2026. Shares of fellow EV startup Lucid rose nearly 5% in sympathy. FedEx — Shares of the company moved more than 14% higher after topping Wall Street’s fiscal fourth-quarter expectations . The shipping giant earned $5.41 per share, after adjustments, on $22.11 billion in revenue. Analysts polled by LSEG were expecting earnings of $5.35 per share and revenue of $22.07 billion. The company’s fiscal 2025 forecast was roughly in line with estimates. Whirlpool — Shares soared nearly 15% after Reuters, citing people familiar with the matter, reported Bosch is considering making an offer for the appliance manufacturer. Aptiv — Shares of the automotive technology company plunged 10% following Piper Sandler’s downgrade of the stock to underweight from neutral . The firm slashed its price target to $63, which implies a 14% drop from Tuesday’s close, and said the joint venture between Rivian and Volkswagen points to less reliance on companies such as Aptiv for electrical architecture. General Mills — The consumer food stock slipped a …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading: Rivian Automotive — The stock surged more than 20% following the announcement that the electric vehicle startup secured a $5 billion investment from Volkswagen Group. Volkswagen’s initial investment will be $1 billion in the form of a convertible note, with the additional $4 billion expected by 2026. Shares of fellow EV startup Lucid rose nearly 5% in sympathy. FedEx — Shares of the company moved more than 14% higher after topping Wall Street’s fiscal fourth-quarter expectations . The shipping giant earned $5.41 per share, after adjustments, on $22.11 billion in revenue. Analysts polled by LSEG were expecting earnings of $5.35 per share and revenue of $22.07 billion. The company’s fiscal 2025 forecast was roughly in line with estimates. Whirlpool — Shares soared nearly 15% after Reuters, citing people familiar with the matter, reported Bosch is considering making an offer for the appliance manufacturer. Aptiv — Shares of the automotive technology company plunged 10% following Piper Sandler’s downgrade of the stock to underweight from neutral . The firm slashed its price target to $63, which implies a 14% drop from Tuesday’s close, and said the joint venture between Rivian and Volkswagen points to less reliance on companies such as Aptiv for electrical architecture. General Mills — The consumer food stock slipped a …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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