On October 6, 2021, Connie Black made adjustments to the production line for Series 6 solar panels during a tour of the First Solar facility in Walbridge, Ohio.
Dane Rees | Reuters
Check out the companies with the biggest midday moves:
first solar – Shares soared 22% solar company announced It acquired Evolar AB for a whopping $80 million. First Solar said the acquisition of the European company, which develops thin films for use in solar panels, will accelerate its development of next-generation photovoltaic technologies.
News Corporation — Shares of the media company surged 6% after News Corp. reported after the close on Thursday that its fiscal third-quarter earnings and revenue topped expectations, according to FactSet. The company also said it expects to save $160 million annually by the end of 2023 through previously announced job cuts.
Icahn Enterprises — Carl Icahn’s holding company rebounded 4 percent, paring its loss for the week to 12 percent. The stock has been on a wild ride after prominent short seller Hindenburg Research took a short position, citing “inflated” asset valuations and other reasons. Separately, Icahn Enterprises said its board approved a $500 million repurchase authorization. The company also recently declared a quarterly dividend of $2 per share.
Jingdong — The U.S.-listed shares of the Chinese e-commerce company fell 5.6%, after rising 7.2% a day earlier on better-than-expected earnings. JD.com also announced on Thursday that CEO Xu Lei will step down in June due to “personal reasons” and will be replaced by CFO Sandy Ran Xu.
Charles Schwab — Shares of the brokerage rose more than 2% on Friday, the firm reported Total client assets increased by 1% in April. Customer cash sorting activity continued to decline in May, Chief Financial Officer Peter Crawford said in a release.
Twilio — Shares fell nearly 5%. The move added to losses that began after the communications software developer late Tuesday forecast second-quarter earnings that missed analysts’ expectations. On Friday, Mizuho downgraded the stock to neutral from buy, saying Twilio faces too many challenges in the near term.
Robin Hood — The stock fell 7.7 percent. That was a reversal of Thursday’s 6.4% gain, a day after Robinhood beat first-quarter earnings and revenue estimates. On Friday, Morgan Stanley said the new 24-hour deal Robinhood announced on Wednesday would not provide any material boost to the company’s financials.
fox — Shares fell nearly 1% after Wells Fargo downgraded the media company to equal weight from overweight. The Wall Street firm cited demand challenges for linear TV and the cost of sports rights. Fox reported a net loss for its fiscal third quarter on Tuesday due to costs related to Fox News’ settlement with Dominion Voting Systems.
digital generation — Gen Digital fell 8% after its fiscal fourth-quarter earnings report after the market closed on Thursday. The cybersecurity company reported adjusted earnings that topped analysts’ expectations, according to FactSet. However, its bookings for the quarter of $1.02 billion fell short of expectations for $1.06 billion.
—CNBC’s Yun Li, Jesse Pound, Michael Bloom and Sarah Min contributed reporting.
