Tupperware and Yellow stocks surge while Rivian, Uber and Nio shares drop, and other stocks on the move

By MarketWatch

Tupperware and American Superconductor stocks see "meme"-like rallies, while JetBlue and Norwegian Cruise shares slump after earnings reports

Here are some of the bigger, more-active movers on Tuesday:

Stock gainers:

Shares of Tupperware Brands Corp. (TUP) soared 27%, after producing a record-monthly gain of 434% in July, as the maker of iconic food-storage containers enjoys "meme"-like attention from investors despite its financial troubles.

American Superconductor Corp.'s stock (AMSC) skyrocketed 49%, to exhibit "meme"-like activity even as the power grid and wind power company has not released any news.

Shares of Yellow Corp. (YELL) soared 67%, and has quadrupled in two days, as hedge fund MFN Partner LP has been buying up shares, even as the Teamsters union said it was served legal notice that Yellow was "ceasing operations and filing for bankruptcy."

Caterpillar Inc.'s stock (CAT) powered up 8% into record territory, after the construction- and mining-equipment maker beat second-quarter profit and revenue expectations by wide margins amid "healthy demand across most end markets."

Ford Motor Co. shares (F) hiked up 2% after the automaker said it resumed production of electric F-150 trucks after an overhaul, and said price cuts led to a "sixfold" jump in orders.

Nikola Corp.'s stock (NKLA) ran up 19%, after the electric vehicle maker said it won an additional $16.3 million grant to support seven hydrogen refueling stations under its Hyla brand.

Global Payments Inc. shares (GPN) charged up 8% toward a nine-month high after the payments technology company reported second-quarter earnings that beat expectations and nudged up its full-year outlook.

Shares of Arista Networks Inc. (ANET) soared 20% following its fiscal second-quarter earnings report. The company posted better-than-expected revenue and earnings, and it offered third-quarter revenue guidance that easily topped analysts' estimates.

Stock decliners:

Rivian Automotive Inc.'s stock (RIVN) sank 3.5%, after closing the previous session at the highest price in nearly eight months, after the EV maker was downgraded at Cantor Fitzgerald on valuation concerns, a week before earnings are due.

Uber Technologies Inc. shares UBER slumped more than 5%, to pull back from a two-year high, after the ride-hailing giant reported its first quarterly operational profit, but said Chief Financial Officer Nelson Chai planned to leave the company in January.

Shares of JetBlue Airways Corp. (JBLU) took an 8% dive after air carrier warned that it would post a potential third-quarter loss, which overshadowed the beating of second-quarter profit forecasts.

Nio Inc. shares (NIO) fell 2.6%, putting them on track to snap their longest win streak in more than two years, even after the China-based EV maker reported July deliveries more than doubled from a year ago, and nearly doubled what it delivered in June.

Shares of Norwegian Cruise Line Holdings Ltd. (NCLH) tumbled 13% after the cruise operator beat second-quarter profit expectations but provided a third-quarter outlook that was below forecasts.

Molson Coors Beverage Co.'s stock (TAP) dropped 4.6% after the beer seller reported second-quarter profit that topped expectations but sales that came up a bit short.

Yum China Holdings Inc. shares (YUMC) shed 5% after the operator of KFC, Pizza Hut and other fast-food restaurant chains in China reported second-quarter revenue that missed forecasts, and seemed to temper expectations for the current third quarter.

Shares of Monolithic Power Systems Inc. (MPWR) shares fell 2% after the computer power system maker's in-line forecast took away from its earnings beat

Rambus Inc. shares (RMBS) tumbled 16% as the chip and sensor maker's earnings and outlook disappointed

-MarketWatch

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08-01-23 1342ET

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