Stock were mixed Wednesday after consumer prices in the U.S. climbed at a 5% annual pace in March, a slowdown from February as energy costs declined. But core prices, which strip out food and energy categories, accelerated last month.
These stocks were making moves Wednesday:
American Airlines (ticker: AAL) declined 8.7% after the carrier said in a filing that it expects first-quarter adjusted earnings of between 1 cent and 5 cents a share. Analysts surveyed by FactSet anticipated profit of 5 cents a share.The stock was the worst performer on the
S&P 500
on Wednesday. Shares of United Airlines (UAL) shed 5.3%, and Delta Air Lines (DAL), which is set to report earning Thursday, fell 1.6%.
Emerson Electric
(EMR) will acquire
National Instruments
(NATI), the testing-equipment maker for $60 a share in cash at an equity value of $8.2 billion, the companies announced Wednesday.
National Instruments shares jumped 9.8% to $57.75. Emerson had made a hostile bid for National Instruments back in January, but National Instruments said it wanted to seek alternatives. Emerson Electric shares fell 1.6%.
Fortive
(FTV) rose 3.2%. It was beat out by Emerson for National Instruments.
Shares of chip supplier
Cirrus Logic
(CRUS) dropped 12.8% following a report that said
Apple
(AAPL) has made a design change in the high-end versions of the iPhone 15 that will be unfavorable for Cirrus.
Bed Bath & Beyond
(BBBY) was falling 7.3% to about 29 cents after disclosing in a filing that it has sold as of Monday about 100.1 million shares for roughly $48.5 million under an agreement with B. Riley Securities. Bed Bath & Beyond could sell up to $300 million under the “at the market offering” program.
Triton International
(TRTN), a lessor of intermodal freight containers, said Wednesday it will be acquired by
Brookfield Infrastructure
(BIPC) in a cash-and-stock deal worth about $4.7 billion. Shares of Triton soared 32% to $83.17, while Brookfield Infrastructure fell 4%.
Horizon Acquisition
(HZON) was rising 12.4% after the blank-check company said it terminated a business combination with subscription-based private aviation company Flexjet.
Shopify
(SHOP) gained 3.8% to $46.51 after the stock was upgraded to Outperform from Market Perform with a $65 price target at JMP Securities. Shares of the e-commerce software company were initiated with a Hold rating by Needham on Tuesday.
Evercore
(EVR) stock gained 2.1% after the investment banking advisory company was upgraded to Overweight from Equal Weight by analysts at Morgan Stanley.
Tesla
(TSLA), the electric-vehicle giant, was falling 1.4% as the Environmental Protection Agency released tighter tailpipe emission standards, which will make it harder and more expensive to sell cars that burn gasoline and emit carbon dioxide. Fellow EV maker
Rivian Automotive
(RIVN) was down 2.2% and
Lucid Group
(LCID) fell 2.6%.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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