Intel — Shares popped 2.5% after the chipmaker announced it would be operating its programmable chip unit as a stand-alone business. Intel plans to conduct an initial public offering for the unit within the next two to three years.
Fluor — Shares climbed 2.4% following an upgrade to buy at UBS. The firm is bullish on the stock due to progress on legacy projects and said Fluor is on the brink of a company turning point.
Sunrun, Sunnova Energy International — Shares of Sunrun and Sunnova dropped 3% and 2.8%, respectively, after Truist Securities downgraded the solar panel installers to hold from buy Wednesday. The firm said higher-for-longer interest rates could hit solar energy stocks.
Moderna — The pharma stock rose slightly after Moderna announced positive interim results from the Phase 1/2 trial of mRNA-1083, an investigational combination vaccine against influenza and Covid. Moderna said in a press release it plans to begin a Phase 3 trial of the combination vaccine in 2023, working to accomplish potential regulatory approval in 2025.
Oddity — The Israel-based beauty stock, which owns direct-to-consumer brands Il Makiage and SpoiledChild, added 3.2% after Bank of America upgraded it to buy from neutral. The bank said it expects sustainable annual sales growth and margin expansion.
Cal-Maine Foods — The stock plunged 11.6% after the company came out with disappointing sales figures due to lower prices. The egg producer reported fiscal first-quarter earnings of 2 cents per share, while analysts polled by StreetAccount had called for earnings of 33 cents per share. Revenue was also lackluster.
