Midday Stock Movers: System1 Surges, Qualcomm and Peloton Decline
2022.04.05 19:01
By Sam Boughedda
Investing.com — U.S. Indices are firmly in the red, with the Nasdaq the biggest loser, sliding 1.66%. Here are the midday movers on Tuesday, April 5th.
Twitter Inc (NYSE:TWTR) shares are 4.9% higher midday Tuesday after it was revealed in an SEC filing that Tesla (NASDAQ:TSLA) CEO Elon Musk will join Twitter’s board.
Carnival Corporation (NYSE:CCL) is up over 3% after it said the week from March 28 to April 3 was the busiest for new cruise bookings in its history.
System1 Inc (NYSE:SST) shares are soaring 40% above Monday’s close after it reported fourth-quarter revenue increased 48% year-over-year to $239 million compared to $161 million in the prior year, with net income at $31 million compared to $7 million in the prior year.
Despite climbing premarket on the news it is in discussions on licensing its battery-swapping technology, Nio Inc (NYSE:NIO) shares have since fallen, trading 4.6% lower midday.
Qualcomm (NASDAQ:QCOM) declined 5% after its price target was cut to $205 from $240 by JPMorgan, which kept an Overweight rating on the shares.
Peloton Interactive (NASDAQ:PTON) has sold off around 4.85% Tuesday after it was reported the company has cut the price of its new Guide strength training device by $200, or approximately 40%.
