Stocks making the biggest moves midday: Wynn Resorts, TuSimple, Newell Brands, First Solar and more
Check out the companies making headlines in midday trading.
Wynn Resorts – Shares of the casino operator jumped 10% after a filing showed billionaire investor and restaurant owner Tilman Fertitta has built a passive 6.1% stake in the company. The stock is still down more than 20% this year.
TuSimpleinternal investigation showed improper dealings and a possible tech transfer to a Chinese firm by Hou. The FBI and Securities and Exchange Commission are both investigating, the Wall Street Journal reported.
First Solar — The solar stock jumped more than 9% during midday trading. On Friday, Bank of America raised its price objective on First Solar, saying the company’s growth prospects remain intact even after its more than 60% rally this year, according to the analyst.
Paramount Globalbeing downgraded by Wells Fargo Securities to underweight from equal weight. Analyst Steven Cahall, who had just downgraded the media company to equal weight earlier this month, expects negative revisions and a possible reconsideration of sports rights or a shift in strategy from Paramount.
Oil and energy stocks – Oil and energy company stocks got a boost Monday after the Organization of Petroleum Exporting Countries said it sees oil demand growing for the next few decades and called for trillions of dollars of investment into the sector. Shares of Coterra EnergyDiamondbackOccidental Petroleum
— CNBC’s Yun Li, Alex Harring, Michelle Fox, Sarah Min and Jesse Pound contributed reporting