Midday movers: Airline stocks, Tesla, AMC Entertainment and more
By Liz Moyer
Investing.com -- Stocks were rising on Wednesday as investors eye a key report on inflation that could help the Fed decide on the next step with interest rates. Here are the midday movers for Jan. 11.
- Airline stocks rose after an early morning technology glitched forced aviation regulators to halt flights in the U.S. By mid-morning, flights were back in the air, but thousands remained canceled or delayed. American Airlines Group (NASDAQ: AAL) stock rose 1.9%, United Airlines Holdings Inc (NASDAQ: UAL) stock rose 4.3% and Delta Air Lines Inc (NYSE: DAL) rose 0.9%.
- Tesla Inc (NASDAQ: TSLA) shares rose 2.8% after the electric vehicle maker registered with Texas to expand its gigafactory near Austin.
AMC Entertainment Holdings Inc (NYSE: AMC) shares jumped 16.7% as the so-called meme stock trade appeared to be back on. Fellow meme stocks were also on the rise, including Bed Bath&Beyond Inc (NASDAQ: BBBY), up 41%, and GameStop Corp (NYSE: GME), up 5%.
BlackRock Inc (NYSE: BLK) shares dipped 0.3% after the largest asset manager was reportedly preparing to lay off 500 people, or just under 3% of its workforce amid Wall Street's business slump.
World Wrestling Entertainment Inc (NYSE: WWE) shares fell 1.8% after its co-CEO Stephanie McMahon announced she would leave the company. Her departure comes about a week after her father, Vince McMahon, announced he had returned to the sports entertainment firm.