Delta Air Lines, Generac stocks rally, Walgreens and Lordstown Motors shares tumble, and other stocks on the move

By MarketWatch

Walgreens stock drops toward a 12-year low after profit miss, slashed outlook; Lordstown stock plunges after bankruptcy filing

Here are some of the bigger and more-active movers on Tuesday.

Stock gainers

Shares of Delta Air Lines Inc. (DAL) ascended more than 3% toward a 14-month high after the air carrier raised its full-year outlook for earnings and free cash flow.

Generac Holdings Inc. shares (GNRC) jumped 7% to pace the S&P 500 index's gainers, after Bloomberg reported that Chief Executive Officer Aaron Jagdfeld said the home generator company was seeing a dramatic increase" in sales in its Texas region as that area suffers from a heat wave.

Shares of Stratasys Ltd. (SSYS) shot up nearly 8% after the 3D printer maker received two unsolicited, increased buyout bids, a cash-and-stock bid from 3D Systems Corp. (DDD) and an all-cash bid from Nano Dimension Ltd. (NNDM). Stratasys said while it will review 3D Systems' revised bid, it hasn't changed its approval of the previously announced merger deal with Desktop Metal Inc. (DM). 3D Systems shares rallied more than 7%, Nano Dimension shares tacked on 1.3% and Desktop Metal's stock fell 1.1%.

Tesla Inc.'s stock (TSLA) rose nearly 2%, after dropping 6% on Monday following a ratings downgrade from Goldman Sachs. The stock's bounce comes even after Piper Sandler said it wouldn't be a surprise to see investors sell to cash in some of their gains after the stock's recent run up.

Meta Platforms Inc. shares (META) rallied nearly 3% after Citi Research analyst Richard Josey boosted his price target by 14% to $360, making Josey the most bullish of the 59 analysts surveyed by FactSet, citing an improving online advertising market.

Centogene NV's stock (CNTG) soared 51% after the genetic diagnostics company announced a joint venture with Lifera, a biopharmaceutical company owned by Saudi Arabia's Public Investment Fund.

Circor International Inc.'s stock (CIR) hiked up 8% toward a five-year high after the flow-control-products company agreed to an amended merger deal with KKR & Co. (KKR) in which the per-share bid was raised to $51 from $49. The raised bid comes after Circor said it had received an unsolicited buyout bid of $52.65 a share in cash.

Snowflake Inc. shares SNOW gained 2% after announcing partnerships with Nvidia NVDA and Microsoft MSFT for artificial intelligence uses.

Shares of AC Immune SA(ACIU) powered up 20% after the Swiss-based biotech said it has received U.S. Food and Drug Administration fast-track designation for an Alzheimer's disease treatment.

Stock decliners

Shares of Walgreens Boots Alliance Inc. (WBA) tumbled 9.7% toward a 12-year low, after the drugstore chain and health care services company reported fiscal third-quarter profit that missed expectations and slashed its full-year outlook, citing "challenging consumer and macroeconomic conditions, and lower COVID-19 vaccine and testing volumes."

Lordstown Motors Corp. shares (RIDE) slumped 37% as the electric vehicle maker filed for bankruptcy protection

Illumina Inc.'s stock (ILMN) slumped 4.9% toward an 11-month low, after the DNA-sequencing company disclosed late Monday that it has begun laying off workers, as the company looks to cut costs amid a withering fight with activist investor Carl Icahn.

-MarketWatch

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06-27-23 1222ET

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