Midday movers: AMC Entertainment, Nike, Rite Aid and more
By Liz Moyer
Investing.com -- Stocks jumped on Wednesday after positive earnings from Nike helped calm investor fears about inflation and interest rates. Here are the midday movers for Dec. 21.
AMC Entertainment Holdings Inc (NYSE: AMC ) shares rose 3.5% after the largest theater chain operator said it was no longer in talks to buy theaters from Cineworld (LON: CINE ), the owner of Regal cinemas in the U.S.
Nike Inc (NYSE: NKE ) shares rose 13.3% after the athletic apparel maker reported a better-than-expected quarter and raised its revenue forecast, saying demand remained strong. It was also continuing to work through inventory challenges.
Rite Aid Corporation (NYSE: RAD ) stock fell 15.3% after the pharmacy retail chain reported higher than expected revenue for the quarter but a drop from last year because of declining demand for COVID-19 vaccines and tests. Its quarterly loss of $1.23 a share was wider than last year's 67 cent a share loss.
Six Flags Entertainment New (NYSE: SIX ) stock was up 11.9% after the amusement park operator attracted an activist investor. Land & Buildings Investment Management has reportedly taken a 3% stake in the company and has suggested it sell or spin off real estate holdings.
Carnival Corporation (NYSE: CCL ) shares rose 4.4% after the cruise operator reported a narrower-than-expected quarterly loss despite missing revenue estimates. Higher costs for food and fuel ate into results but bookings volume gained momentum after loosening COVID restrictions.
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