Midday movers: Icahn Enterprises, Meta Platforms, Fisker rise; FMC falls
Investing.com -- U.S. stocks were rising at midday to start off a week that includes the release of key inflation data which could guide the Federal Reserve with its monetary policy, as well as the start of the new quarterly earnings season.
Here are some of the biggest U.S. stock movers today:
Icahn Enterprises (NASDAQ:IEP) stock rose 20% after the WSJ reported that the renowned financier Carl Icahn and banks have finalized amended loan agreements that untie Icahn's personal loans from the trading price of Icahn Enterprises, months after short-seller Hindenburg flagged margin call risks.
Meta Platforms (NASDAQ:META) stock rose 0.4% after its Threads online social media service hit 100 million users, potentially threatening Twitter’s popularity.
Helen of Troy (NASDAQ:HELE) stock rose 17% after the consumer products retailer beat expectations for first-quarter profit and sales, even as discretionary spending fell.
Citigroup (NYSE:C) stock rose 0.4%, Wells Fargo (NYSE:WFC) stock fell 0.5%, and JPMorgan Chase (NYSE:JPM) stock rose 0.4% ahead of Friday’s quarterly earnings reports.
FMC (NYSE:FMC) stock fell 10% after the chemical manufacturing company slashed its revenue outlook, citing “abrupt and unprecedented” volume declines.
Fisker (NYSE:FSR) stock rose 5.9% after the electric vehicle manufacturer announced a convertible notes offering of $340M and said it could be increased to $680M.
--Peter Nurse contributed to this report
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