Check out the companies making the biggest moves at midday:
Hertz – Shares of the car rental company jumped 1.9% after the company announced a partnership with BP’s electric vehicle charging unit that will put thousands of charging stations at Hertz sites. Many stations will be used to charge Hertz’s growing fleet of electric vehicles, but some will be available for public use.
Keurig Dr Pepper – The beverage company lost around 3% after it was downgraded by Goldman Sachs to a neutral rating after a buy. The company sees increased risk to Keurig margins as commodity inflation remains elevated.
Lucid – The electric vehicle stock climbed 1.4% on Tuesday after Cantor Fitzgerald kicked off Lucid coverage with an overweight rating. The investment firm said in a note to customers that Lucid’s cars have a competitive edge over their peers in terms of battery range and faster charging.
Tesla – Tesla shares gained nearly 1% following a report from Electrek that the electric vehicle maker expects a “very high volume” of vehicle deliveries at the end of the quarter. Ark Invest’s Cathie Wood also told CNBC on Tuesday that she stands by her bullish call for Tesla, saying “our confidence couldn’t be higher as we see the move towards electric vehicles accelerating. “.
Ford Motor – Ford stock fell about 2% after the automaker announced it was spending $700 million on new investments and creating 500 more hourly jobs in Kentucky. The investment will support an all-new F-Series Super Duty pickup truck, the company said in a press release.
FLEETCOR Technologies – Shares of the global business payments company fell nearly 3% in midday trading. On Monday, Fleetcor announced that its chief financial officer was leaving the company after 22 years.
Moderna – Moderna shares rose nearly 2% in midday trading, a day after the Food and Drug Administration cleared five additional batches of the pharmaceutical company’s updated Covid booster vaccine manufactured at a factory in Catalent in Indiana. On Friday, Moderna asked the FDA to clear its omicron injections for children ages 6 to 17.
Cruise Lines – Cruise line stocks were the main outperformer in the S&P 500 after news that Canada would drop Covid-19 travel restrictions from next month. Royal Caribbean and Norwegian Cruise Line Holdings each rose about 1.8% and 2.3%, respectively. Carnival added more than 1%.
Energy stocks – Oil prices rose from a nine-month low on Tuesday, propelling energy names higher. Valero Energy, Marathon Petroleum and Phillips 66 added more than 2%. Exxon Mobil and Baker Hughes gained more than 1%.
— CNBC’s Sarah Min, Jesse Pound and Alex Harring contributed reporting.
