Midday movers: CarMax, Virgin Galactic, Starbucks and more

Investing.com -- Stocks are falling after Federal Reserve Chair Jerome Powell's hawkish comments to Congress this week. Here are the market movers for June 23.

• CarMax Inc (NYSE: KMX) shares are up 8% after the used car retailer beat expectations for the recent quarter as it keeps up profit despite falling used-car prices and weakening consumer demand.


• Virgin Galactic Holdings Inc (NYSE: SPCE) shares are falling 16.7% after the space flight operator announced a $300 million offering of common stock and revealed plans to raise another $400M to build its fleet.


• Starbucks Corporation (NASDAQ: SBUX) shares are down 2.5% after the coffee retailing chain's union workers were preparing to strike over what they said were policies preventing Pride Month decorations in its stores.


• 3M Company (NYSE: MMM) shares dipped 0.2% after it agreed to pay $10.3 billion to settle lawsuits over water contamination from potentially harmful chemicals found in firefighting foam and some consumer products.


• Meta Platforms Inc (NASDAQ: META) shares are up 0.8% after the social media platform said it would pull down news on Facebook and Instagram in Canada after a new law that requires tech companies to pay content fees to domestic media companies.

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