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Midday movers: Six Flags Entertainment, Cano Health, UBS and more

Investing.com
·1-min read

Investing.com -- U.S. stocks were mixed on Friday after a reading of producer price inflation that came in higher than expected.

Here are some of the biggest U.S. stock movers today:

Six Flags Entertainment New (NYSE:SIX) shares were down 0.5% after the amusement park operator missed expectations, largely because bad weather affected park attendance. It expects attendance numbers to improve in the second half.

Cano Health (NYSE:CANO) stock fell 70% after the primary-care provider announced plans to cut its workforce by 18%, saying there was “substantial doubt” about its ability to continue operating within a year.

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UBS (NYSE:UBS) stock rose 4.8% after Switzerland’s largest lender stated that it would not need the around $10 billion of state guarantees provided to smooth the takeover of its failing rival.

Capri Holdings (NYSE:CPRI) stock fell 0.9% after Wells Fargo downgraded the fashion company to ‘equal weight’ from ‘overweight’ in the wake of the announcement that Tapestry (NYSE:TPR) is set to buy the Versace owner.

Archer Aviation (NYSE:ACHR) stock fell 2.7% after the air taxi maker settled litigation with Boeing (NYSE:BA), and agreed to collaborate on autonomous technology.

Rivian Automotive (NASDAQ:RIVN) stock fell 1.5% after Exane BNP Paribas upgraded the electric car manufacturer to ‘Outperform’ from ‘Neutral’ after the company lifted its annual production guidance Tuesday after reporting a narrower-than-expected loss in the second quarter.

DigitalOcean (NYSE:DOCN) stock rose 3.2% after Morgan Stanley upgraded the software company to ‘Equal weight’ from ‘Underweight’, saying the current outlook appears achievable.

--Peter Nurse contributed to this report

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