These stocks were making moves Tuesday:
Instacart (ticker: CART) opened at $42, soaring 40% above its initial public offering price of $30 a share, and giving the delivery company a market value of $13.9 billion based on the company’s fully diluted share count. At close, the company’s stock was up 12%.
Walt Disney (DIS) shares fell 3.6% after the entertainment giant said it plans to nearly double investment in its parks, experiences and products segment over the next decade.
U.S.-listed shares of NIO ( NIO )?closed down 17% after the Chinese electric-vehicle maker said it plans to raise $1 billion by issuing convertible senior notes. NIO said it plans to use a portion of the proceeds from the offering to pare its debt, with the remainder “mainly to further strengthen its balance sheet position as well as for general corporate purposes.”
Bausch Health (BHC) dropped 7.8% after the pharmaceutical company said its chief financial officer had resigned and will be leaving Oct. 13.
Enphase Energy (ENPH) rose 4.2% after the maker of solar inverters disclosed in a securities filing that director Thurman Rodgers purchased more than $4 million worth of shares.
U.S. Steel (X) issued fiscal third-quarter guidance that was better than expected. Shares of the steel maker rose 3.7%. U.S. Steel forecast adjusted earnings of $1.10 to $1.15 a share, beating analysts’ estimates of $1.01. The steel producer said the guidance reflects the anticipated impact of the strike by the United Auto Workers.
Block (SQ) declined 2.8% after it was announced that Alyssa Henry, the head of the company’s Square payments platform, would be stepping down Oct. 2. Henry has been with Block for more than nine years. Jack Dorsey, who leads the overall Block business, will assume Henry’s role, the company said in a filing Monday.
Hanesbrands (HBI) jumped 0.9% after the consumer goods company said it is evaluating strategic options for its Champion business, including a potential sale.
Rocket Lab (RKLB) declined 7.5% after the space company said it “experienced an issue” during the launch of its 41st mission. “Following lift-off from Launch Complex 1, the rocket successfully completed a first stage burn and stage separation as planned, before an issue was experienced at around T+ two minutes and 30 seconds into flight, resulting in the end of the mission,” Rocket Lab said in a statement. The company’s next mission, scheduled before the end of the third quarter, will be postponed, Rocket Lab added.
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