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Stocks making the biggest moves midday: U.S. Steel, CVS Health, SolarEdge and more

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Stocks making the biggest moves midday: U.S. Steel, CVS Health, SolarEdge and more


A customer walks towards the entrance of a CVS Health Corp. store in downtown Los Angeles, California, U.S., on Friday, Oct. 27, 2017.

Christopher Lee | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

U.S. Steel — Bucking declines in the broader market, shares of U.S. Steel rose 5.8% in midday trading after Credit Suisse upgraded the stock to outperform from underperform. Analyst Curt Woodworth told clients in a note that the surge in prices for steel made it clear that the industry was in a “super cycle.” He sees U.S. Steel stock rallying 42% from where it closed on Monday.

CVS Health — Shares of the pharmacy retailer gained 3.8% just after 11 a.m. in New York after CVS said it earned $2.04 per share in the first quarter, above the $1.72 expected. CVS sales, which also topped expectations, rose at its stores as customers flocked to the company’s locations to receive their Covid-19 vaccine. The company raised its full-year forecast.

Microsoft, Apple, Amazon, Facebook, Alphabet — Shares of Big Tech stocks dropped on Tuesday with the Nasdaq Composite down over 2%. Shares of Netflix lost 1.6%, and Microsoft dropped 2.1%. Amazon and Facebook shed about 2.6%. Apple dropped 3.8% and Alphabet fell more than 3%.

SolarEdge – Shares of the solar inverter maker dropped more than 14% after the company warned that margins could be lower going forward, thanks to higher freight costs. SolarEdge did, however, top analyst expectations during the period. The company earned 98 cents per share excluding items, while revenue came in at $405.5 million. Analysts surveyed by FactSet were expecting earnings of 80 cents per share and $395.4 million in revenue.

Under Armour – Shares dipped just shy of 3.6% despite the company beating top and bottom line estimates during the first quarter. The retailer reported adjusted earnings per share of 16 cents on revenue of $1.26 billion. Analysts surveyed by Refinitiv were expecting the company to post a per-share profit of 3 cents on $1.13 billion in revenue. Separately, Under Armour said it reached a settlement with the Securities and Exchange Commission over claims of disclosure failures.

Kroger, Alberstons — Shares of the grocery chains fell about 3.6% and 2%, respectively after Goldman Sachs said the return of restaurants and rising food prices should put pressure on supermarket stocks in the months ahead. Goldman downgraded Kroger to sell from neutral and Albertsons to neutral from buy, saying the companies were likely to be pinched by weakening demand and higher costs.

Quest Diagnostics — Shares of Quest Diagnostics gained 2% after UBS upgraded the stock to buy from neutral, saying industry fundamentals appeared to be at their healthiest point in more than a decade even as the revenue stream from Covid testing wanes.

Avis Budget — The car rental company’s shares dropped 4% despite a better-than-expected earnings report. Avis reported a loss of 46 cents per share, less than the expected loss of $2.16 per share, according to Refinitiv. Revenue also topped estimates. Avis management commented on the chip shortage and did not provide forward-looking guidance.

iRobot — Shares of iRobot fell 11% after reaffirming the range of its profit guidance, which is on the low end of analysts’ expectations. The company, however, reported EPS of 41 cents per share, well above the 9 cents per share expected on Wall Street, according to Refinitiv. Revenue also topped estimates.

Arconic — The industrial company’s share price surged more than 16% after beating on the top and bottom lines of its quarterly results. Arconic reported earnings of 46 cents per share on revenue of $1.68 billion. Analysts projected earnings of 27 cents per share on revenue of $1.54 billion.

— with reporting from CNBC’s Pippa Stevens and Tom Franck.

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Blinken discusses Gaza in calls with Qatari, Egyptian, Saudi foreign ministers By Reuters

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Blinken discusses Gaza in calls with Qatari, Egyptian, Saudi foreign ministers By Reuters



© Reuters. FILE PHOTO: U.S. Secretary of State Antony Blinken holds a joint news conference with his British counterpart at Downing Street following their bilateral meeting in London, Britain May 3, 2021 during the G7 foreign ministers meeting. Chris J Ratcliffe/Poo

CAIRO (Reuters) -U.S. Secretary of State Antony Blinken discussed the violence in Israel, the West Bank and Gaza in phone calls with the Qatari, Egyptian and Saudi foreign ministers, the State Department said on Sunday.

Blinken and Qatar’s Sheikh Mohammed bin Abdulrahman Al-Thani discussed “efforts to restore calm in Israel and the West Bank and Gaza in light of the tragic loss of civilian life”, the State Department said.

The Qatari Foreign Ministry said in a statement that the two officials discussed “the recent Israeli attacks on worshippers at the Al Aqsa Compound and the attack on the besieged Gaza Strip.”

Al-Thani stressed the “need for urgent action by the international community to stop the repeated brutal Israeli attacks against civilians in Gaza and the blessed Al-Aqsa Mosque,” it added.

Meanwhile, a growing group of U.S. senators on Sunday called for a ceasefire. Democratic Senator Chris Murphy and Republican Todd Young, the senior members of a Foreign Relations panel, said in a statement: “As a result of Hamas’ rocket attacks and Israel’s response, both sides must recognize that too many lives have been lost and must not escalate the conflict further.”

Twenty-five other Democratic U.S. senators and two independents issued a separate, similar statement urging an immediate ceasefire.

In his call with Egypt’s Sameh Shoukry, Blinken “reiterated his call on all parties to de-escalate tensions and bring a halt to the violence, which has claimed the lives of Israeli and Palestinian civilians, including children”, the State Department said in another statement.

Saudi state news agency SPA reported on Sunday that Blinken also had a phone call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud to discuss the latest developments “in Palestine and in the region.”

The State Department said the two discussed “the ongoing efforts to calm tensions in Israel and the West Bank and Gaza and bring the current violence to an end.”

Qatar’s Al-Thani also held a phone call on Sunday with Shoukry, in which they reviewed “bilateral cooperation relations and developments in Palestine,” the Qatari Foreign Ministry said in a separate statement.

The Egyptian Foreign Ministry said in a statement that the two ministers agreed on “the importance of working to reach an immediate ceasefire between the two sides, and they also agreed to continue coordination in the bilateral framework, as well as in regional and international ones, regarding what is in the interest of the Palestinian people and reaching a ceasefire,”

The truce efforts by Egypt, Qatar and the United Nations have so far offered no sign of progress.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Train in Iowa hauling hazardous materials derails, catches fire By Reuters

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Train in Iowa hauling hazardous materials derails, catches fire By Reuters


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© Reuters. Fire is seen on a Union Pacific train carrying hazardous material that has derailed in Sibley, Iowa, U.S., in this still frame obtained from social media drone video dated May 16, 2021. NATHAN MINTEN/via REUTERS

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By Kanishka Singh

(Reuters) – A Union Pacific (NYSE:) train hauling hazardous materials derailed and then caught fire in the city of Sibley, Iowa, authorities said on Sunday, leading to the evacuation of dozens of people although there were no reports of injuries or fatalities.

The derailment, involving 47 rail cars, took place in the afternoon in Sibley, Union Pacific said, adding the cause of the incident was under investigation.

Within an hour, local officials texted an evacuation order to people nearby. An area comprising about a 5-mile radius around the scene of the derailment was evacuated as a precaution, according to ABC News.

“There were no injuries to the crew,” Union Pacific said in an emailed statement, adding that Union Pacific was working with first responders at the scene.

“Approximately 80 people were evacuated”, the Iowa Department of Homeland Security and Emergency Management said in an email.

Ken Huls, the fire chief in Sibley, said the train was carrying fertilizer and ammonium, the radio station KIWA reported.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Bitcoin Falls 10% In Selloff By Investing.com

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Bitcoin Falls 10% In Selloff By Investing.com



© Reuters. Bitcoin Falls 10% In Selloff

Investing.com – was trading at $43,167.0 by 23:32 (03:32 GMT) on the Investing.com Index on Monday, down 10.38% on the day. It was the largest one-day percentage loss since May 12.

The move downwards pushed Bitcoin’s market cap down to $823.8B, or 40.11% of the total cryptocurrency market cap. At its highest, Bitcoin’s market cap was $1,184.9B.

Bitcoin had traded in a range of $43,167.0 to $46,545.4 in the previous twenty-four hours.

Over the past seven days, Bitcoin has seen a drop in value, as it lost 25.75%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $64.1B or 30.89% of the total volume of all cryptocurrencies. It has traded in a range of $43,166.9805 to $57,938.5195 in the past 7 days.

At its current price, Bitcoin is still down 33.36% from its all-time high of $64,778.04 set on April 14.

Elsewhere in cryptocurrency trading

was last at $3,250.00 on the Investing.com Index, down 14.80% on the day.

Binance Coin was trading at $505.39 on the Investing.com Index, a loss of 12.94%.

Ethereum’s market cap was last at $387.0B or 18.84% of the total cryptocurrency market cap, while Binance Coin’s market cap totaled $80.8B or 3.93% of the total cryptocurrency market value.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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