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Midday movers: CarMax, Moderna, Coinbase Global

AuthorLiz Moyer Stock Markets

Published Apr 12, 2023 02:18

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Midday movers: CarMax, Moderna, Coinbase Global

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By Liz Moyer

Investing.com -- Stocks are mixed on Tuesday as investors weigh the odds of the Federal Reserve raising interest rates again in May. Here are the market movers for April 11.

CarMax Inc (NYSE:KMX) shares rose 10.8% after the used car seller posted better-than-expected earnings for the recent quarter, with profit more than double the estimate. Revenue, however, failed to reach expectations.
Moderna Inc (NASDAQ:MRNA) shares fell 3% after the biotechnology company that developed one of the Covid-19 vaccines said it was too soon to declare its trial of a flu vaccine a success.
Coinbase Global Inc (NASDAQ:COIN) shares rose 8%, boosted by a gain in bitcoin to above $30,000 for the first time in 10 months. Other crypto-related stocks also benefited. Bitcoin investor MicroStrategy Incorporated (NASDAQ:MSTR) shares rose 8%.
Tilray Inc (NASDAQ:TLRY) shares fell 8.4% after it announced plans to buy the cannabis producer Hexo in an all-share deal valued at around $56 million. The offer price was slightly below Hexo's closing price as of Monday.
WW International Inc (NASDAQ:WW) shares rose 53% after the parent company of Weight Watchers completed the acquisition of Sequence, a subscription telehealth platform. The deal gives it an opportunity to push into the booming business of obesity medicine.

Midday movers: CarMax, Moderna, Coinbase Global

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