© Reuters
By Liz Moyer
Investing.com — U.S. stocks fell on Thursday on renewed fears of a recession. Here are the midday movers for June 16:
- Revlon Inc (NYSE:) shares jumped 22% after the cosmetics maker filed for chapter 11 bankruptcy protection. The company said it expects $575 million in debtor in possession financing to keep its operations running.
- Tesla Inc (NASDAQ:)shares fell 8% after the electric car maker raised prices, largely because of rising commodity prices and supply chain challenges.
- Carnival Corporation (NYSE:) shares fell 10% as worries about a recession weighed on travel and leisure stocks. A recession could cause consumers to pull back on spending at a time when the travel industry is trying to recover from the pandemic. Other cruise stocks were also down, including Norwegian Cruise Line Holdings Ltd (NYSE:), down 11%, and Royal Caribbean Cruises Ltd (NYSE:), down 10%.
- Kroger Company (NYSE:) stock ticked 0.8% lower despite strong fiscal first quarter earnings. For the full year, the grocery chain raised its EPS guidance to $3.85 to $3.95, which beats the consensus of $3.84.
- Dupont De Nemours Inc (NYSE:)shares fell 6.7% on a downgrade by Jefferies to hold from buy. A recession could be bad news for the chemical maker’s stock.
- Amazon.com Inc (NASDAQ:)shares fell 3.6% after the e-commerce giant set its annual Prime day for July 12 to 13, when it hopes to entice online shoppers with deals despite high inflation that is causing households to hold back on discretionary purchases.
Be the first to comment