Michael Dell, Dell CEO, delivers a keynote address during the 2013 Oracle Open World conference on September 25, 2013 in San Francisco, California.
Justin Sullivan | Getty Images
Check out the companies that are making headlines in midday trading.
Carnival, Norwegian cruise line, royal caribbean Major US cruise company stocks rose Wednesday on optimism about a rapid economic recovery from the pandemic. Carnival’s shares were up 1.4%. Norwegian Cruise Line and Royal Caribbean gained 0.7% and 0.4% respectively.
AMC Entertainment – The shares in the cinema stocks fell by 3.4% after Loop repeated the sales rating for AMC Entertainment. The Wall Street company said, “AMC’s competitive position … has not improved, the company’s value nearly doubled, while the value of its closest competitor has declined.”
Dell – The computer company’s shares rose 2.3% after Deutsche Bank called the stock a top recovery idea. “We believe that its stocks will continue to outperform if IT spending recovers this calendar year,” the company wrote in a statement to customers. Dell’s shares are up 25% over the year.
Li car – Shares in the China-based electric vehicle maker fell 12.9% after the company announced a new $ 750 million debt offer to fund research and development. The stock is down 20% this year.
Genworth Financial The insurance company’s shares were down 3.7% after Genworth closed the deal to be acquired by China Oceanwide Holdings. “The Genworth Board of Directors has determined that Oceanwide will not be able to complete the proposed transaction in a timely manner and that more clarity is needed now about Genworth’s future in order for the company to execute on its plans to maximize shareholder value,” the company said in a statement. The merger was first proposed in 2016.
Qiagen Biotech shares rose 1.6% after Qiagen announced a new product that will enable the genomes of the Covid-19 virus to be sequenced more quickly. Sequencing the genomes can help scientists identify new variants of the virus. The Netherlands-based company said its new test kit could analyze more than 6,000 samples at a time.
Ebang International Holdings – The Chinese blockchain company’s shares fell 2.2% on Wednesday, despite Ebang pushing back against a short-seller report from Hindenburg Research. The company said the report, released Tuesday, contained “many errors, unsupported speculation and inaccurate interpretations of events.”
Niu Technologies – Niu shares fell 4.4% despite the launch of the first electric kick scooter. The China-based company plans to make the two-wheeled transport device available in North America, China and Europe this summer.
– with reports from Yun Li, Pippa Stevens and Jesse Pound of CNBC.