Stocks making the biggest moves midday: Jabil, JetBlue, Sunrun, Valero, Verve Therapeutics and more
These are some of the stocks posting the biggest moves in midday trading. Jabil – The electronic manufacturing company and supplier to Apple closed nearly 9% higher. Jabil lifted its full-year guidance, calling for core earnings of $9.33 per share and net revenue of $29 billion. The company also posted top and bottom line beats in the fiscal third quarter. Energy stocks – Crude oil futures jumped as the conflict between Israel and Iran escalated. The S & P 500 energy sector added 1%, aided by gains in Valero Energy , which added 2.9%. Chevron , Hess and APA Corporation all advanced more than 1%. JetBlue Airways – The New York-based carrier fell 7.9% Tuesday after CEO Joanna Geraghty told staff it’s implementing a host of new cost cuts as softer-than-expected travel demand is making break-even operating margins this year “unlikely.” United Airlines sank 6.2%, Delta Air Lines was off 4.3% and American Airlines dropped roughly 3%. Solar stocks — Companies in the space got battered as the Senate’s version of President Donald Trump’s tax bill would phase out renewable energy incentives . Shares of Enphase Energy dropped roughly 24%, while First Solar and Sunrun slid almost 18% and 40%, respectively. SolarEdge Technologies pulled back about 33%. Verve Therapeutics — Shares rallied 81% after the gene editing company agreed to be acquired by Eli Lilly for $10.50 per share, a premium of 68% on the company’s last close. The deal, worth up to $1.3 billion, is expected to close in the third quarter. Eli Lilly shares fell 2%. T-Mobile US — The telecommunication stock fell 4% after Bloomberg and Reuters reported that SoftBank sold 21.5 million T-Mobile shares in an unregistered, overnight sale for $224 each. SoftBank raised about $4.8 billion , per the reports. — CNBC’s Fred Imbert, Lisa Han, Alex Harring, Sarah Min, Brian Evans and Scott Schnipper contributed reporting. This post has been syndicated from a third-party source. View the original article here.
