David Wadhwani, senior vice president of digital media for Adobe, speaks during the launch of Adobe Creative Cloud and CS6 in San Francisco, April 23, 2012.<\/p>\n
David Paul Morris | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Check out the companies making headlines in midday trading.<\/em><\/p>\n Redwire<\/a><\/span><\/span><\/span> \u2014 The space infrastructure stock soared 14% Wednesday after Roth MKM initiated research<\/a> coverage of the company with a buy rating. The firm said Redwire, which went public<\/a> via a special purpose acquisition company in 2021, has “several billions worth of pipeline revenue opportunity.”<\/p>\n Corteva<\/a><\/span><\/span><\/span> \u2014 The seed and crop protection solutions provider added 1.8% during midday trading after launching Reklemel, a new product that will help protect a variety of food and row crops from plant-parasitic nematode damage, according to a Wednesday press release<\/a> from the company.<\/p>\n Moderna<\/a><\/span><\/span><\/span> \u2014 Shares of the vaccine maker rose about 2.3%. The action comes a day after the Centers for Disease Control and Prevention cleared updated Covid vaccines<\/a> from Pfizer and Moderna for Americans ages 6 months and up, following approvals from the U.S. Food and Drug Administration. The mRNA vaccines are designed to target a relatively new omicron subvariant called XBB.1.5.<\/p>\n Citigroup<\/a><\/span><\/span><\/span> \u2014 Shares advanced 2% after the bank’s CEO Jane Fraser announced<\/a> a corporate reorganization Wednesday amid a stock slump. The move will divide Citigroup into five main divisions, ridding the company of its two main divisions that catered to consumers and large institutional clients.<\/p>\n Airline stocks \u2014 American Airlines<\/a><\/span><\/span><\/span> tumbled 4.7% after it slashed its third-quarter profit estimates<\/a> due to higher fuel prices and costs from a new pilot labor agreement. Low-cost carrier Spirit Airlines<\/a><\/span><\/span><\/span> fell 2.7% after it also cut its summer profit estimates due to higher costs.<\/p>\n Xpeng<\/a><\/span><\/span><\/span>, Nio<\/a><\/span><\/span><\/span> \u2014 U.S.-based shares of Chinese electric vehicle makers Xpeng and Nio dropped 2.1% and 3.6%, respectively, after the European Commission said it is launching an investigation<\/a> into subsidies given to electric vehicle manufacturers in China.<\/p>\n Adobe<\/a><\/span><\/span><\/span> \u2014 Stock in the software company added about 2% in midday trading ahead of quarterly results Thursday. Analysts polled by FactSet forecast an adjusted $3.98 per share on $4.866 billion in revenue. Traders have also signaled bullish sentiment<\/a> toward the stock ahead of earnings, due to the continued excitement over artificial intelligence.<\/p>\n Ford Motor<\/a><\/span><\/span><\/span>, General Motors<\/a><\/span><\/span><\/span> \u2014 The auto stocks advanced after UBS said both were buys<\/a>. Ford added 2.8%, while General Motors climbed 1.3%. The firm noted that Ford’s pro business, its commercial segment, should show stronger-than-expected resiliency.\u00a0<\/p>\n \u2014 CNBC’s Alex Harring, Hakyung Kim, Brian Evans, Samantha Subin and Tanaya Macheel contributed reporting.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":" David Wadhwani, senior vice president of digital media for Adobe, speaks during the launch of Adobe Creative Cloud and CS6 in San Francisco, April 23, 2012. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Redwire \u2014 The space infrastructure stock soared 14% Wednesday after Roth MKM…<\/p>\n","protected":false},"author":1,"featured_media":48658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-48657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n