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{"id":48657,"date":"2023-09-13T17:14:00","date_gmt":"2023-09-13T17:14:00","guid":{"rendered":"https:\/\/financeworld24.com\/stocks-making-the-biggest-moves-midday-citigroup-adobe-corteva-and-more\/"},"modified":"2023-09-13T17:14:00","modified_gmt":"2023-09-13T17:14:00","slug":"stocks-making-the-biggest-moves-midday-citigroup-adobe-corteva-and-more","status":"publish","type":"post","link":"https:\/\/financeworld24.com\/stocks-making-the-biggest-moves-midday-citigroup-adobe-corteva-and-more\/","title":{"rendered":"Stocks making the biggest moves midday: Citigroup, Adobe, Corteva and more"},"content":{"rendered":"
\n
\n
\n
\n
\n

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

\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":"

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