CSX shares come off the rails, Digital World Acquisition Corp.'s stock rallies, and other Friday movers

By MarketWatch

Sirius XM gives back some of Thursday's 42% gain

Here are some of the biggest movers of the day:

Stock gainers

Digital World Acquisition Corp. (DWAC), the special-purpose acquisition company (SPAC) looking to take Donald Trump's Truth Social company public, soared nearly 60% after the SPAC reached a settlement with the Securities and Exchange Commission over fraud charges.

Harley-Davidson Inc.(HOG) jumped 1.7% after D.A. Davidson upgraded it to buy from neutral ahead of the company's second-quarter financial update on July 27.

Stock decliners

American Express(AXP) shares dropped nearly 5% despite the credit-card giant beating its second-quarter profit forecast, as it increased total provisions for credit losses to $1.2 billion from $410 million in the year-ago quarter.

CSX Corp.(CSX) shares fell 4.3% after the railroad operator reported second-quarter sales that missed expectations, dragged down by lower fuel and coal prices and weaker shipping volumes.

Sirius XM HoldingsInc.(SIRI) shares were down about 14%. The stock jumped 42% on Thursday on an apparent combination of short covering, an unwinding of a spread trade involving Liberty SiriusXM and possible buying related to a rebalancing of the Nasdaq 100 index.

RedHill Biopharma Ltd.'s(RDHL) stock fell 18% after the company said it had received an additional $1.7 million in U.S. government funding for its partner, Apogee, to develop a treatment for gastrointestinal acute radiation syndrome.

-MarketWatch

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07-21-23 1009ET

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