Midday movers: PepsiCo, Unity, Rivian Automotive and more
Investing.com -- U.S. stocks were rising on Tuesday, boosted by dovish comments from Fed officials that suggested the central bank could be near the end of its rate hikes.
Here are some of the biggest U.S. stock movers today:
PepsiCo (NASDAQ:PEP) stock rose 2% after the soft drinks giant raised its annual profit forecast for a third time this year, as higher pricing helped offset a drop in volumes.
Unity Software (NYSE:U) stock rose 1.7% after the video-game software maker said its CEO John Riccitiello would retire in the wake of a controversial pricing change that frustrated numerous developers.
Rivian (NASDAQ:RIVN) stock rose 5.6% after UBS upgraded its stance on the EV manufacturer to ‘buy’ from ‘neutral’, seeing a potential buying opportunity following the recent selloff.
Corning (NYSE:GLW) stock fell 0.5% after JPMorgan downgraded the technology company to ‘neutral’ from ‘overweight’, seeing considerable downside to current consensus earnings estimates.
Juniper Networks (NYSE:JNPR) stock fell 1.5% after JPMorgan downgraded the networking hardware manufacturer to ‘neutral’ from ‘overweight’, calling the company the most challenged on a relative basis among its networking peers.
Honeywell (NASDAQ:HON) stock rose 0.1% after the industrial conglomerate announced plans to restructure its business operations to three segments down from four to boost sales growth and reallocate capital.
Lexicon Pharmaceuticals (NASDAQ:LXRX) stock rose 12.5% after the group said its heart failure drug had received preferred status at Express Scripts, the pharmacy benefits management unit of Cigna (NYSE:CI).
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