Check out the companies making the biggest moves midday:
Hertz: The rental company’s shares rose 1.9% after the company announced a partnership with BP’s electric vehicle charging unit that will put thousands of charging stations at Hertz locations. Many of the stations will be used to charge Hertz’s growing fleet of electric vehicles, but some will be available for public use.
Keurig Dr Pepper: The beverage company lost 3% after being downgraded by Goldman Sachs to a neutral buy rating. The company sees increased risk to Keurig’s margins as commodity inflation remains high.
Lucid – The electric vehicle stock rose 1.4% on Tuesday after Cantor Fitzgerald initiated coverage of Lucid with an overweight rating. The investment firm said in a note to clients that Lucid’s cars have a competitive advantage over their peers in longer battery range and faster charging.
Tesla – Shares of Tesla gained nearly 1% after a report from Electrek that the electric vehicle maker expects “very high volume” of vehicle deliveries by the end of the quarter. Ark Invest’s Cathie Wood also told CNBC on Tuesday that she’s sticking to her bullish call on Tesla, saying “our confidence couldn’t be higher as we see the move to electric vehicles accelerating.”
Ford Motor: Ford shares fell about 2% after the automaker announced it is directing $700 million toward new investments and the creation of 500 additional hourly manufacturing jobs in Kentucky . The investment will support an all-new F-Series Super Duty pickup truck, the company said in a press release.
FLEETCOR Technologies: Shares of the global business payments company were down nearly 3% in midday trading. On Monday, Fleetcor announced that its chief financial officer would be leaving the company after 22 years.
Moderna: Shares of Moderna rose nearly 2% in midday trading, a day after the Food and Drug Administration authorized five additional batches of the drug company’s updated Covid-19 booster vaccine made at a facility ·ation of Catalent in Indiana. On Friday, Moderna asked the FDA to authorize its omicron injections for children ages 6 to 17.
Cruise Lines: Cruise line stocks were the S&P 500’s best performers after news that Canada would lift Covid-19 travel restrictions starting next month. Royal Caribbean and Norwegian Cruise Line Holdings each rose 1.8% and 2.3%, respectively. Carnival added more than 1%.
Energy stocks: Oil prices rose from a nine-month low on Tuesday, pushing energy names higher. Valero Energy, Marathon Petroleum and Phillips 66 added more than 2%. Exxon Mobil and Baker Hughes gained more than 1%.
— CNBC’s Sarah Min, Jesse Pound and Alex Harring contributed reporting.
