Keurig Dr Pepper's stock climbs on upgrade, Exxon shares slip after update, and other stocks on the move

By MarketWatch

Here are some of the biggest movers of the day:

Stock gainers:

Shares of BorgWarner Inc.(BWA) gained 3.8%, making the stock one of the top performers in the S&P 500 index Thursday. Earlier this week, Phinia Inc. completed its spinoff from the electric-vehicle-component company.

Keurig Dr Pepper Inc.'s(KDP) stock rose 1.5% after Morgan Stanley upgraded the beverage company to overweight from equal weight.

Shares of Spirit Airlines Inc.(SAVE) gained 0.5% after JetBlue Airways Corp.(JBLU) said it was ending its joint venture with American Airlines Group Inc(AAL) in the northeastern U.S. to focus on finalizing its merger with Spirit.

Stock decliners:

Shares of VF Corp.(VFC) fell 3.3%, continuing their slide after slipping 0.9% during Wednesday's session and making the stock one of the worst S&P 500 performers on Thursday.

Moderna Inc.'s(MRNA) stock fell 4%, pulling back after Wednesday's gains, which were boosted by the company's regulatory submissions in Europe, Switzerland and Australia for its mRNA-1345 vaccine, which targets RSV-associated lower respiratory tract disease (RSV-LRTD) and acute respiratory disease (ARD) in adults age 60 and older.

Phinia Inc.'s(PHIN) stock, which began trading on the New York Stock Exchange Wednesday following the company's spinoff from BorgWarner, is down 11.4%.

Exxon Mobil Corp.'s (XOM) stock fell 3.5% after the oil giant said that lower natural-gas prices are likely to be a drag on its second-quarter earnings.

Meta Platforms Inc.(META) shares fell 0.1% after the company launched Threads, its rival to Twitter, on Wednesday.

-MarketWatch

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07-06-23 1413ET

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