Midday movers: Cava Group, Adobe Systems, iRobot and more

June 16, 2023 12:36 PM EDT -- Stocks are wobbling as investors assess the Federal Reserve's next move on interest rates after holding steady this week. Here are the market movers for June 16.

  • CAVA Group Inc (NYSE: CAVA) shares fell 13% a day after its initial public offering popped 91%. The successful first day of trading is expected to help bolster more IPO activity this year.

  • Adobe Systems Incorporated (NASDAQ: ADBE) shares rose 2.4% as the maker of software tools for digital media talked up its opportunities in artificial intelligence and raised its forecasts for the third quarter and full year.

  • iRobot Corporation (NASDAQ: IRBT) shares jumped 20% after U.K. competition regulators approved's (NASDAQ: AMZN) $1.7 billion acquisition of the company which makes the Roomba cleaner.

  • Virgin Galactic Holdings Inc (NYSE: SPCE) shares rose 12% after the space company set its first commercial space flight for later this month and said it sees a second one coming in August.

  • Corning Incorporated (NYSE: GLW) shares were up 3.9% a day after Citigroup analysts raised their rating to Buy from Neutral and raised their price target to $40.

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