October 6, 2022

Brighton Journal

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Twitter, Carnival, First Solar, and more

Twitter, Carnival, First Solar, and more

Carnival Cruise Line’s Carnival Ecstasy cruise ship docks in the Port of Jacksonville amid the coronavirus outbreak on March 27, 2020 in Jacksonville, Florida.

Sam Greenwood | Getty Images

Here are the companies making the headlines in midday trading.

Twitter The social media company’s shares rose more than 3% after Twitter announced that Elon Musk will join its board of directors. The stock surged 27% in the previous session on its best day even after Musk disclosed a 9.2% stake. The Tesla CEO said there could be “significant improvements” to Twitter in the coming months.

carnival Cruise inventory rose more than 2% after Carnival said March 28-April 3 was the busiest booking week in the company’s history. Carnival has 22 of its 23 ships operating again after the pandemic effectively halted the global cruise industry.

First Solar – Solar panel stock fell 4.8% after a Rating downgraded below neutral on Bank of America. The investment firm said in a note that First Solar received “a lot of credit for a reality that never materialized.”

Ralph Lauren Shares of the apparel retailer fell 3.7% mid-day. Ralph Lauren stock was reduced to an equal weight of overweight by Wells Fargo analysts, who said on Tuesday they were cautious about the near-term picture for the sector. Analysts said the hit to consumer spending is likely to hit mid-market retailers.

MarketAxess Holdings Shares of the fixed-income trading platform fell more than 9% after MarketAxess released its monthly volume statistics for March. The company’s average total monthly credit volume is down 3% from March 2021.

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Starbucks — Shares of the coffee chain fell another 4.1% on Tuesday, as Wall Street digested the decision of returning CEO Howard Schultz to halt the company’s share buyback program. The stock fell 3.7% on Monday. Wedbush lowers Starbucks’ rating to neutral of outperformance, explaining in a note to clients that she was less confident in the company’s earnings.

Queen Piece Cryptocurrency exchange shares sank 7.4% Tuesday after investment firm Mizuho highlighted spending on non-fungible tokens as an increasing cost to Coinbase. Mizuho also lowered its share price target.

Carvana – Used car dealer inventory fell more than 9% after a sector performance downgrade At RBC Capital Markets. RBC said in a note that it was skeptical that Carvana’s fundamentals could support its expansion plans.

CNBC’s Yoon Lee and Sarah Min contributed to this report.