Stock Market News
Midday Stock Movers: Beyond Meat, Lordstown Motors, Unity
2022.05.12 19:31
By Sam Boughedda
Investing.com — U.S. equities are marching lower once again Thursday, with the Dow down more than 1%. Here are your midday movers on May 12th.
- Rivian Automotive (NASDAQ:RIVN) is up 17%. Shares have jumped despite posting a wider than expected quarterly loss and revenue that missed expectations.
- Lordstown Motors (NASDAQ:RIDE) has surged 56% after it revealed it has completed a deal to sell certain assets to Foxconn. The deal will see Lordstown raise the funds needed to begin production of its Endurance pickup truck.
- Despite posting weaker than expected results earlier this week and analysts cutting price targets Thursday, Roblox (NYSE:RBLX) is up over 20% midday Thursday.
- Beyond Meat (NASDAQ:BYND) initially plummeted Thursday, hitting a new low of $20.50 after reporting a larger than expected quarterly loss and revenue that missed analyst expectations. However, the stock has regained those losses and more, trading 8% higher midday.
- Tapestry Inc (NYSE:TPR) is trading more than 16% above Wednesday’s close after it reported earnings before the open today, beating earnings and revenue estimates.
- After Wednesday’s 37% decline following its earnings release, Unity Software (NYSE:U) shares are rising, up 17% midday Thursday. The company said Apple’s (NASDAQ:AAPL) privacy changes were a drag on the performance in its latest quarter.
