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Lucid has reached a supply agreement with luxury car manufacturer Aston Martin.
lucid
Stocks up slightly on Monday as traders kept an eye on developments in Europe after a brief mercenary rebellion in Russia.
These stocks made moves on Monday:
wise group
(code: LCID) increased 13% after reaching supply agreement with Aston Martin, a British luxury car manufacturer, to build high-performance electric vehicles. By agreement,
lucid
will provide Aston Martin with “industry leading electric vehicle technologies”. Aston Martin will issue 28.4 million new shares of common stock to Lucid, making Lucid a shareholder holding approximately 3.7% of Aston Martin’s shares.
Carnival
(CCL) fell 8% even after the travel company posted a smaller-than-expected loss for the second quarter amid “demand continues to accelerate”.
PacWest Bancorp
(PACW) rose 7.1% after the regional bank said it had agreed to sell a $3.5 billion special financing portfolio to the investment director
Ares . Manager
(
TO BE
).
wolf speed
the expansion of (WOLF) in the United States will be backed by up to $2 billion from a group of lenders led by
Apollo Global Management
,
Bloomberg reported, citing a statement it saw. This funding will generate $1.25 billion in immediate cash for the chipmaker
wolf speed
,
while another $750 million could be withdrawn later. Shares of Wolfspeed rose 6.5%.
Pfizer
(PFE) drops 5.1% after the pharmaceutical giant said planning to promote its oral candidate danuglipron towards late-stage development as a treatment for type 2 diabetes and obesity, but would prevent the development of a second candidate known as lotiglipron.
modern
(MRNA) rose 1.9% to $120.77 after the vaccine maker’s stock was upgraded to Buy from Neutral at UBS. UBS reduced its price target on the stock to $191 from $221.
International Business Machines
(IBM) second announcement it will buy the software company application for $4.6 billion. Apptio is owned by private equity firm Vista Equity Partners. IBM shares rose 0.8%.
Sherwin-Williams
(SHW) rose 1.3% after the paints and coatings giant was upgraded from Market Performance to Better by analysts at BMO Capital.
Alphabet
(GOOGL) dropped 0.8% to $121.38 after Google’s parent company was downgrade to Neutral from Buy by analysts at UBS. The target price has been increased to $132 from $123.
Write to Joe Woelfel at [email protected]
