Stocks making the biggest moves midday: Gap, Peloton, Boeing, American Airlines, Twitter and more

Stocks making the biggest moves midday: Gap, Peloton, Boeing, American Airlines, Twitter and more


A Gap store in New York, August 2, 2020.

Scott Mlyn | CNBC

Check out the companies making headlines in midday trading.

Gap — Shares of the apparel retailer dropped more than 5% after Gap announced Monday that CEO Sonia Syngal is stepping down from her position. Wells Fargo downgraded the stock to equal weight from buy following the move, saying the firm can no longer recommend a stock that is dealing with so many challenges within its own company — especially as investors deal with a difficult economic backdrop.

Boeing — The aerospace company’s shares jumped more than 7% after it reported that its deliveries have reached their highest monthly level since March 2019. Boeing delivered 51 airplanes in June, totaling 216 jets during the first half.

Airline stocks – Shares of American Airlines jumped nearly 10% after the company updated its second-quarter guidance, expecting total revenue to rise by 12% compared to the same period in 2019. Delta Air Lines gained about 6.15% ahead of its earnings, which are scheduled for Wednesday. Southwest also rose 4.64% after Susquehanna upgraded the stock to a positive rating from neutral.

Peloton – Peloton shares added 3.7% after the fitness equipment maker said it’s suspending its in-house manufacturing operations and broadening its partnership with Taiwanese manufacturer Rexon Industrial.

Twitter – Shares of the social media company rebounded more than 4% following a 11% decline in the previous session. Twitter said Monday in a letter that Elon Musk’s bid to terminate his proposed $44 billion acquisition of the social media company is “invalid and wrongful.”

Dave & Buster’s – Shares of Dave & Buster’s fell nearly 4% to a 52-week low after the entertainment-themed restaurant announced a slew of executive changes to its C-suite. The hires will take effect August 1.

PriceSmart—Shares of discount retailer PriceSmart plunged nearly 10%, touching a 52- week low a day after the company reported earnings that missed analysts’ expectations, even though sales outperformed. PriceSmart also said it is trying to offload excess inventory at discount prices, as it’s been hit by shifts in consumer demand and supply chain disruptions.

Canoo—Shares of EV maker Canoo surged 53.16% after Walmart agreed to purchase at least 4,500 of its upcoming electric delivery vans. Through the agreement, Walmart may purchase up to 10,000 of the electric vans.

Microsoft – Microsoft slipped 4.10% after Morgan Stanley lowered its price target on the company to $354 from $372. The firm also said that the stock is not immune to macro risks.

— CNBC’s Sarah Min, Samantha Subin and Yun li contributed reporting



Source

Airport lounges, Europe and premium class are on the table, Southwest CEO says
Business

Airport lounges, Europe and premium class are on the table, Southwest CEO says

A Southwest Airlines Boeing 737 MAX8 departs from San Diego International Airport to Chicago on March 4, 2025 in San Diego, California. Kevin Carter | Getty Images News | Getty Images ARLINGTON, Texas — Southwest Airlines is considering airport lounges, more premium seating and even long-haul international flights to win over high-spending customers, CEO Bob […]

Read More
Sales of new homes tanked in May, pushing supply up to a 3-year high
Business

Sales of new homes tanked in May, pushing supply up to a 3-year high

Houses undergo construction in a neighborhood on April 17, 2025 in Austin, Texas. Brandon Bell | Getty Images Sales of new single-family homes dropped 13.7% in May compared with April to 623,000 units on a seasonally-adjusted, annualized basis, according to the U.S. Census. That sales total was 6.3% lower than May 2024 and well below […]

Read More
Women’s Tennis Association extends media rights deal with Tennis Channel through 2032
Business

Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

Coco Gauff of the United States lifts the winners trophy after her victory against Aryna Sabalenka in the Final of the Women’s singles competition on Court Philippe-Chatrier during the 2025 French Open Tennis Tournament at Roland Garros on June 7, 2025, in Paris, France. Sipa via AP Images The Tennis Channel is extending its deal […]

Read More