Check out the companies that made the biggest moves in midday trading: SpaceX — Shares rose 9% in the company’s second day of trading on Monday. SpaceX, which listed on the Nasdaq on Friday, is up 19% from its opening price of $135 per share. The company raised a total of $85.7 billion, including the underwriter’s “greenshoe” overallotment. Ferrari — Shares of the luxury car maker rose 5% after Morgan Stanley upgraded the stock from equal weight to overweight with a price target of $438. Analysts said the decline in Ferrari stock over the past year was due to value compression rather than a decline in profits or the brand. Additionally, dealer visits in the U.S. and Europe show that demand for special series and collectible models remains strong. Tripadvisor — Shares rose nearly 7% after the travel company announced it would sell its European online restaurant reservations platform to American Express. Activist investor Starboard had called on TripAdvisor to sell The Fork and consider strategic options for the entire company. Shares of American Express, which also owns Resy, rose 4%. Generac Holdings — Shares rose 2% after the power generation company announced plans to acquire a new facility in Belvidere, Illinois. The deal will help the company expand its packaging capacity for large megawatt generators. Energy stocks — The group’s shares fell after U.S. oil prices fell 5% to around $80 a barrel following the U.S.-Iran deal to reopen the Strait of Hormuz. APA shares fell more than 5%, and Devon Energy shares fell nearly 2%. Marathon Petroleum shares fell more than 4%, and EOG Resources shares fell nearly 3%. Shares of Chevron and ExxonMobil also fell about 4%. Airline and Cruise Stocks — Stocks rose on Monday, benefiting from lower fuel prices, with United Airlines stock up more than 5% and Delta Air Lines stock up 2%. Norwegian Cruise Line and Carnival Corporation stock. rose about 4%, and Royal Caribbean rose about 6%. Fox Corp., Roku — Fox stock fell 15% after the company announced it would acquire Roku for $160 per share. This is an 11% premium compared to Friday’s closing price. Fox said in a press release that the cash and stock deal will build a company at the forefront of sports, news and streaming. Roku Nasdaq-listed stocks fell slightly. Micron Technology — Shares of the memory and storage solutions company rose more than 9% as technology stocks rose amid a broader market rally and received a price target hike from TD Cowen. The company’s analysts now expect the stock to reach $1,500, arguing that memory’s role in building artificial intelligence is structural rather than cyclical. Firefly Aerospace, Rocket Lab — Stocks rose on Monday after KeyBanc upgraded both stocks to overweight. This comes after Firefly and Rocket Lab shares fell more than 19% and 10%, respectively, on Friday after SpaceX’s IPO caused investors to move money from other aerospace companies to Elon Musk’s giant. Shares of Firefly and Rocket Lab each rose about 5% on Monday. Freeport-McMoRan — The mining company’s stock rose more than 1% on Monday’s rise in gold prices. Investors returned to gold as a potential peace deal between the United States and Iran eased fears that the Federal Reserve would have to raise interest rates in the coming months to counter price increases caused by the conflict. —CNBC’s Nick Wells and Christina Cheddar-Burke contributed to this report.
