By Check out the companies making the biggest moves midday.
Domino’s Pizza — The stock popped 11.09% after Domino’s announced U.S. consumers can now order its products through Uber’s Uber Eats and Postmates apps. The agreement has the potential to add incremental orders from Uber Eats to 70% of Domino’s stores, the company said.
DraftKings — Shares of the sports betting app rallied 5.28% following an upgrade to buy by analysts at Bank of America. The Wall Street firm cited an “inflection point” in margins and profitability.
Roku — Shares of the streaming provider gained 1.18%. The company said Tuesday it’s teaming up with Shopify to allow viewers to purchase straight from Roku TV. Viewers will be able to simply press a button on their Roku remote to place an order upon seeing an ad for a Shopify merchant, the company said.
Lazard, Jefferies Financial — Shares of Lazard added 4.22% while Jefferies gained 4.88% after both were upgraded by Morgan Stanley, which said it expects growing merger and acquisition activity. Lazard was upgraded to overweight from equal weight, while Jefferies was upgraded to equal weight from underweight.
Bank stocks — Bank stocks jumped after consumer prices came in lighter than expected. Citigroup
and Goldman Sachs gained 1.83% and 1.72%, respectively. KeyCorp rallied 3.12%, while Zions added 2.81% and Comerica Bancorporation rose 3.12%.
Lucid Group — The electric-vehicle maker sank 11.82% after its second-quarter deliveries fell short of analysts’ estimates. Lucid delivered 1,404 of its electric Air luxury sedans, while analysts polled by FactSet expected 2,000 deliveries.
SunPower — Shares jumped 8.19% after the solar power company was upgraded by Raymond James to strong buy from outperform. Analyst Pavel Molchanov called this year’s sell-off “excessive.” His price target of $21 implies 120% upside from Tuesday’s close.
Stellantis — The vehicle manufacturer stock added 2.67% after being upgraded by Bank of America to buy. The firm said Stellantis could benefit against peers due to ample exposure to the U.S.
Beyond Meat — The plant-based meat alternative rose 13.52% following the company’s announcement Tuesday that its steak product will now be sold at about 14,000 stores across the U.S., including Wegmans and Whole Foods. Beyond Meat shares added 4% in the previous session.
Acadia Healthcare — Shares tumbled 5.12% after the company revealed in a filing that a New Mexico jury found Acadia responsible for damages totaling $485 million in a lawsuit. According to reports, the suit is related to a sexual assault in one of its now-defunct residential treatment facilities. Acadia said it is evaluating all legal options and will challenge the verdict.
Holley Inc. — Shares of the auto parts maker jumped 21.14% following upgrades by Bank of America and JPMorgan Chase. JPMorgan said the company was “back on track,” while Bank of America noted it is “firing on all cylinders.”
— CNBC’s Yun Li, Alex Harring, Samantha Subin and Michael Bloom contributed reporting.
