Midday Movers: Continental Resources, FedEx, Twitter and More

2022.06.14 21:06

By Liz Moyer

Investing.com — U.S. stocks wobbled on Tuesday ahead of the Federal Reserve’s decision on interest rates. Here are the midday movers for June 14: 

• Continental Resources Inc (NYSE:CLR) rose 14% after Chairman Harold Hamm offered $70 a share to buy up the remaining shares he and his family don’t already own in the shale producer. Hamm and family hold 83% of the shares. The deal is valued at around $25 billion.
• Oracle Corporation (NYSE:ORCL) shares rose nearly 9% after the cloud software provider reported better than expected revenue and profit and forecast 30% revenue growth in cloud computing in the 2023 fiscal year.
• Twitter Inc (NYSE:TWTR) shares rose more than 2% after news that Elon Musk, who has offered to take the social network private for $44 billion, would address employees on Thursday during an “all-hands” meeting. 
• FedEx Corporation (NYSE:FDX) shares jumped more than 14% after the company said it would raise its quarterly dividend by more than 50% and add two directors to its board after striking an agreement with hedge fund D.E. Shaw.
• Coinbase Global Inc (NASDAQ:COIN) shares treaded water, down less than 0.1% at midday after the cryptocurrency exchange operator said it would cut 18% of its workforce as it prepares for a recession.
• MicroStrategy Incorporated (NASDAQ:MSTR) shares rebounded 7%. Bloomberg reported the company saying it has enough collateral to meet a margin call on its Bitcoin holdings.

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