Midday stock movements: Rivian, Delta, Snap, Dish Network, etc.

‍Rivian Automotive

In response to the announcement that it would sell $1.3 billion in bonds, the electric vehicle maker's shares fell 12%. Rivian's R2 vehicles will be launched with the help of the capital, a spokesperson told Trade Algo.

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Delta Air Lines

As a result of Evercore ISI upgrading the shares to outperform from in line, the shares rose 2.6%. Investment banking firm Evercore ISI recommends investors buy the dip as it sees several catalysts ahead for the airline.

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United Airlines

 After JetBlue's acquisition of American Airlines was blocked by the Justice Department, United Airlines gained 4.4%. BNP Paribas Exane upgraded the stock from underperform to outperform.

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WW International

As a result of Weight Watchers acquiring telehealth firm Sequence, its small-cap stock rallied 49%. WW could gain access to the anti-obesity drug market as a result of the deal.

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Joby Aviation

As a result of Deutsche Bank's downgrade to sell from hold, the electric aircraft maker lost 5.2%. It is unclear whether the design of the aircraft is too aggressive because of the aircraft's weight.

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Snap

This comes on top of the 13% gain the stock made on Monday, which was 4.1%. Currently, the company is awaiting the unveiling of a bipartisan Senate bill that will give Joe Biden control over TikTok, its biggest competitor.

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Squarespace

 As a result of Squarespace's fourth-quarter revenue beating analysts' expectations, the company's shares shot up by nearly 13%. For the first quarter and the full year, Squarespace also provided upbeat revenue guidance.

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Dick’s Sporting Goods

A better-than-expected fourth quarter result sent Dick's Sporting goods shares soaring 10.9%. Analysts also predicted better same-store sales.

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Dish Network

Announcing the purchase of 1.45 million shares, Dish co-founder and EVP James DeFranco boosted the stock by 7.4%.

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AeroVironment

Following a beat on analyst estimates, shares of the company rose 4.8%. Among the company's highlights were a large order from Ukraine and increased production of tactical missile systems.

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Nutanix

Despite beating earnings expectations in its fiscal second quarter, cloud computing shares dropped 8.8%. It was unclear about Nutanix's expenses after an investigation into a third-party software vendor forced the company to delay its 10-Q quarterly report on its finances.

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DXC Technology

Following the announcement that talks between DXC Technology and a financial sponsor had been terminated, shares fell 4.5%.

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Bank stocks 

Following Jerome Powell's announcement that rates may need to rise for longer, bank stocks were down. Five Third Bancorp, Wells Fargo, Truist Financial and Zions Bancorp all declined by more than 3.5%.