© Reuters
Investing.com — Stocks are rising as megacaps stage a rebound despite lingering recession fears. Here are the market movers for June 27.
- Lordstown Motors Corp (NASDAQ:) shares fell 36% after the electric truck maker filed for bankruptcy protection and said it put itself up for sale. The company is suing Taiwan-based Foxconn (TW:) about a $170 million cash infusion that didn’t go through.
- Walgreens Boots Alliance Inc (NASDAQ:) stock fell 9% after the pharmacy retailer slashed its guidance for the year, citing declining sales of COVID vaccines and medications, and missed expectations for earnings.
- Delta Air Lines Inc (NYSE:) shares rose 5.5% after the carrier raised its guidance for the June quarter and said full-year earnings per share could come at the high end of its previously provided range.
- Generac Holdings Inc (NYSE:) shares rose 8.5% after the home generator maker’s CEO told Bloomberg News it is seeing rising demand for its backup generators because of a heat wave in the South, especially in Texas.
- Snowflake Inc (NYSE:) shares rose 3.6% after the cloud-based data company said it was working with Nvidia (NASDAQ:) to offer artificial intelligence capabilities to customers.
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