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Midday Stock Movers: Beyond Meat, Lordstown Motors, Unity

Investing.com
·1-min read

By Sam Boughedda

Investing.com -- U.S. equities are marching lower once again Thursday, with the Dow down more than 1%. Here are your midday movers on May 12th.

Rivian Automotive (NASDAQ:RIVN) is up 17%. Shares have jumped despite posting a wider than expected quarterly loss and revenue that missed expectations. Lordstown Motors (NASDAQ:RIDE) has surged 56% after it revealed it has completed a deal to sell certain assets to Foxconn. The deal will see Lordstown raise the funds needed to begin production of its Endurance pickup truck. Despite posting weaker than expected results earlier this week and analysts cutting price targets Thursday, Roblox (NYSE:RBLX) is up over 20% midday Thursday. Beyond Meat (NASDAQ:BYND) initially plummeted Thursday, hitting a new low of $20.50 after reporting a larger than expected quarterly loss and revenue that missed analyst expectations. However, the stock has regained those losses and more, trading 8% higher midday. Tapestry Inc (NYSE:TPR) is trading more than 16% above Wednesday's close after it reported earnings before the open today, beating earnings and revenue estimates. After Wednesday's 37% decline following its earnings release, Unity Software (NYSE:U) shares are rising, up 17% midday Thursday. The company said Apple's (NASDAQ:AAPL) privacy changes were a drag on the performance in its latest quarter.

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