Movers & Shakers: Getaround stock soars on deal news, First Solar, Tesla, Beyond Meat and other stocks on the move
Here are some of the stocks on the move on Friday.
Shares of car-sharing company Getaround Inc. GETR, +46.54% roared 55% after the company said late Thursday it plans to buy all of the assets of HyreCar Inc. HYREQ, -46.43% for $9.45 million. HyreCar was down 46%.
First Solar Inc.’s stock FSLR, +23.68% was up 23% to lead S&P 500 gainers after it said it would pay up to $80 million to acquire the perovskite technology company Evolar AB. Perovskite is a type of solar cell and the deal is expected to bolster First Solar’s position in thin film photovolataics, as Dow Jones Newswires reported.
Blue Bird Corp. BLBD, +38.51% shares shot up 36% after the school-bus maker ratcheted up its sales outlook, reported estimate-beating quarterly results and said a turnaround plan to cut costs was “ahead of schedule.”
News Corp NWSA, +6.78%, the parent of MarketWatch publisher Dow Jones, reported fiscal third-quarter results that beat expectations, helped by a “decidedly more positive” economic backdrop, sending shares up 7%.
Icahn Enterprises LP’s stock IEP, +8.06% was up 7% in a rebound from recent selloffs. The company is in a battle with short seller Hindenburg Research, which has accused it of inflating asset values and questioned loans granted to Carl Icahn using his units as collateral.
Charles Schwab Corp.’s stock SCHW, +2.46% gained 3% after the discount brokerage said its total client assets for April rose 1% over the previous month to $7.63 trillion, and were up 5% from April 2022.
Beyond Meat Inc.’s stock BYND, +3.20% reversed early losses to trade up 3.8%, after Mizuho analysts cut their price target to $12 from $20 after its earnings this week.
Tesla Inc. shares TSLA, -2.27% surrendered early gains to trade down 2.2% after CEO Elon Musk named Linda Yaccarino, a veteran media executive with experience in advertising, as Twitter’s new CEO, months after promising to cede control.
Sanmina Corp. shares SANM, -6.31% fell 7% after the electronics-manufacturing services provider’s results, and most but not all of its outlook, topped Wall Street expectations.
SiriusPoint Ltd.’s stock SPNT, -9.64% tumbled 9% after Dan Loeb’s hedge fund Third Point disclosed in a securities filing that’s it’s no longer pursuing an acquisition of the insurer after failing to agree on price.
Spectrum Brands Holdings Inc.’s stock SPB, -2.06% slid 2.5% after the consumer brands company posted a narrower-than-expected loss for its fiscal second quarter on Friday, but sales fell below consensus estimates on weakness in the home and garden segment.