Stocks traded mixed Tuesday as Wall Street prepared for the release of inflation data at both the consumer and producer levels.
These stocks made moves:
Used-car retailer CarMax (ticker: KMX) rose 10% after posting better-than-expected fiscal fourth-quarter earnings.
Coinbase
(COIN) rose 6.1%,
MicroStrategy
(MSTR) gained 6.3%, and
Marathon Digital
(MARA) was up 12% after
Bitcoin,
the world’s largest cryptocurrency, traded above $30,000 for the first time in 10 months.
Moderna
(MRNA) fell 3.1% after the company said an independent data board deemed it too soon “to declare early success” in one of the biotech’s flu vaccine trials because of a lack of sufficient cases.
WW International
(WW) shares soared 60% after the weight management company said it completed its purchase of Sequence, a subscription telehealth platform. The stock also was upgraded to Buy from Neutral by analysts at Goldman Sachs.
Virgin Orbit Holdings
(VORB) fell 30% after saying Nasdaq planned to delist shares of the space launch start-up. Virgin Orbit filed for chapter 11 bankruptcy protection last week.
Adtran
(ADTN) stock fell 24% after the networking and communications company disclosed preliminary results for its first quarter that included a guide lower on revenue.
Cannabis company
Tilray Brands
(TLRY) fell 8% after agreeing to buy
Hexo
(HEXO), the maker of pot products, for $56 million in an all-stock deal. Tilray will pay about $1.25 a share for Hexo, which sank 27.1% to about $1.20. Tilray also reported fiscal third-quarter results that were worse than analysts’ expectations.
Carrier Global
(CARR) shares gained 2.9% after The Wall Street Journal, citing people familiar with the matter, reported Tuesday that the air-conditioning company was working on a plan to sell or spin off its Fire & Security business segment, which comprises about 17% of the company’s sales.
Whirlpool
(WHR) gained 3.8% after the home appliance company was upgraded to Buy from Neutral by analysts at Goldman Sachs who are confident coming initiatives can boost revenue and margins.
Ford
(F) stock climbed 1.2% after the auto maker said it was spending $1.8 billion to convert an assembly plant in Ontario into a facility for making electric vehicles and assembling EV battery packs.
Akamai Technologies
(AKAM), the content-delivery and security software company, was upgraded to Overweight from Neutral at
Piper Sandler,
with an unchanged price target of $93. The stock gained 3.2%.
Write to Joe Woelfel at [email protected]
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