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Stocks making the biggest moves midday: Tesla, Avis Budget, Lemonade, Spotify & more


A worker in a face mask walks past gates at the Tesla Gigafactory in Shanghai, China, on Feb. 17, 2020.

Qilai Shen | Bloomberg | Getty Images

Here are the companies making headlines in midday trading.

Tesla – Shares of the electric vehicle maker jumped more than 6%, hitting a new all-time high, after the company said it delivered about 90,650 vehicles in the second quarter. Analysts surveyed by FactSet had expected 72,000 deliveries. Shares of Tesla have gained 185% this year.

Lemonade — Shares of the insurance tech company saw a major pop for its initial public offering, jumping 80% in the opening minutes. The stock was priced at $29 per share. The company is a member of the 2020 class of CNBC Disruptor 50

Avis Budget — The rental car stock climbed nearly 17% after Morgan Stanley upgraded the stock to overweight from equal weight. The firm said in a note that the company could benefit from rebounding used car prices and gain market share from other travel companies, including bankrupt competitor Hertz. 

Spotify — Shares of the music streaming company jumped more than 4% on a report Spotify is considering adding video streaming features to its service to compete with Google’s YouTube, according to a report in online tech publication “Tech The Lead.”

Facebook — The social media stock fell more than 1% as it faces continued pressure from advertisers about its content moderation. The company also announced that it is shutting down two of its less popular apps. 

Akamai — Shares of the cloud technology company rose 6.7% after the stock was upgraded to outperform from market perform by Cowen, according to FactSet. The stock is now up more than 30% year to date. 

DocuSign — The work-from-home stock rose 6.6% after RBC Capital Markets increased its price target on the stock to $210 per share from $170, according to FactSet. The firm also added the stock to its Top 30 Global Ideas list, saying it has a “large, sustainable leadership position” in the industry. 

Noble Energy, Apache — Energy stocks were some of the best performers in the S&P 500 on Thursday morning as oil futures rose slightly and the Labor Department said the U.S. economy added more jobs than in expected in June. Noble Energy shares climbed 6.3%, while Apache gained 4%. 

Nu Skin Enterprises — Shares of the health products company soared more than 25% after Nu Skin issued improved guidance for the second quarter. The company said it expects to report revenue of just over $600 million, more than $50 million above the top of the prior guidance range.

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