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.
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.
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