Midday Movers: Airlines, Snap, and Hycroft Mining Rise, Coupa Software Falls

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Midday Movers: Airlines, Snap, and Hycroft Mining Rise, Coupa Software Falls
Credit: © Reuters.

By Sam Boughedda

Investing.com -- U.S. stocks traded mostly higher Tuesday with airline stocks making significant gains. Here are the midday movers on Tuesday, March 15th. 

  • Hycroft Mining Holding Corporation (NASDAQ: HYMC ) is up 21% after initially rising 97% in premarket trading following the news that AMC Entertainment (NYSE: AMC ) is reportedly buying a stake in the precious metals development company.
  • Snap Inc (NYSE: SNAP ) is trading over 6% above Monday's close after being initiated with a buy rating at Deutsche Bank (DE: DBKGn ).
  • U.S. airline stocks rallied Tuesday after several carriers raised revenue forecasts on stronger demand. In addition, oil prices continued to tumble. At the time of writing, Delta Air Lines (NYSE: DAL ) is at +8%, Southwest Airlines (NYSE: LUV ) +5%, United Airlines (NASDAQ: UAL ) +9%, American Airlines (NASDAQ: AAL ) +9% and JetBlue Airways Corp (NASDAQ: JBLU ) +8%.
  • Coupa Software Inc (NASDAQ: COUP )is down 19% after the company reported earnings Monday after the close, with guidance coming in below analyst estimates. The company expects fiscal 2023 full-year revenue to be between $836 million and $840 million, with adjusted earnings per share for the year from 15 cents to 19 cents. Analysts surveyed by FactSet estimated earnings per share for the year of 73 cents on revenue of $876.4 million.
  • Evolv Technologies (NASDAQ: EVLV ) is trading 41% lower after reporting earnings after the close Monday. The company projected a significant loss in its FY22 guidance.
  • ANI Pharmaceuticals (NASDAQ: ANIP ) has fallen 23% after reporting earnings before the bell. The company's earnings per share of 54 cents missed analyst expectations of 75 cents. However, revenue of $60.93 million beat consensus estimates of $56.3 million.

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