Netflix Stock Jumps 5.1% Following Double Upgrade and More
Netflix's stock gained 5.1% on Wednesday following a double upgrade to "buy" from "sell" by CFRA. The firm stated that competitors would find it difficult to catch up to the streaming giant.
Cal-Maine Foods Shares Drop 14.5% After Earnings Miss
Cal-Maine Foods' shares fell 14.5% on Wednesday after the company reported earnings that fell short of Wall Street's expectations, despite recording record sales. The egg producer attributed the shortfall to the avian flu outbreak, which limited supply and pushed prices up.
Southwest Airlines Stock Rises 3.7% Amid Flight Disruptions
Southwest Airlines stock rose 3.7% on Wednesday, recovering from losses the previous day when it dropped more than 5%. The airline has faced severe disruptions and thousands of canceled flights due to winter weather, drawing criticism from frustrated travelers. According to The Dallas Morning News, Southwest Airlines canceled an additional 60% of its flights on Wednesday, but it is expected to restore its full schedule on Friday.
Lockheed Martin Stock Up Nearly 1% Following Sikorsky Unit Contesting Contract
Lockheed Martin's stock rose nearly 1% on Wednesday following news that its Sikorsky unit is contesting a U.S. Army helicopter contract awarded to Textron. Sikorsky alleges that proposals for the $1.3 billion contract were not evaluated fairly. Textron's shares were last up 1.8%.
Tesla Stock Rebounds 8% After Selling Off
Tesla's stock gained more than 8% on Wednesday after selling off during the previous sessions and down 37% this month. The stock is on track for one of its worst months, quarters, and years ever.
Apple Stock Rises Nearly 3% After Hitting 52-Week Low
Apple's stock rose nearly 3% on Wednesday after hitting its lowest level since June 2021 earlier in the week.
General Electric Stock Up 2.2% on News of Healthcare Spinoff Joining S&P 500
General Electric's stock rose 2.2% on Wednesday amid news that its healthcare spinoff, GE Healthcare, will join the S&P 500 when it starts trading separately on January 4th. GE Healthcare will replace Vornado Realty Trust, which will join the S&P MidCap 400.
ImmunoGen Stock Increases 5.5% on CFO Departure
ImmunoGen's stock rose 5.5% on Wednesday after the biotechnology company announced that CFO Susan Altschuller would not be returning from her time off. Renee Lentini, the vice president and chief accounting officer has been named interim CFO. The stock initially dropped in premarket trading.
TG Therapeutics Stock Soars 22.9% on FDA Approval for Multiple Sclerosis Drug
TG Therapeutics' biopharmaceutical stock soared 22.9% on Wednesday following news that the U.S. Food and Drug Administration (FDA) had approved its drug, Briumvi, to treat relapsing forms of multiple sclerosis. The drug is expected to be rolled out during the first quarter of 2023.
