American Airlines rose 8.4% to $14.70 Tuesday as travel-related stocks continued to benefit from positive developments in the race to produce a COVID-19 vaccine, and on data indicating a strong weekend for travel. Shares closed Wednesday at $14.94.
Nikola Corp. rose 21% to $35.50 Tuesday as electric car stocks benefited from a General Motors announcement that it would suspend emissions litigation against California backed by the Trump administration. Shares closed Wednesday at $30.24.
Ford moves ahead
Ford Motor rose 6.1% to $9.40 Tuesday after a report that the automaker is moving to reduce warranty costs and a company announcement of the hiring of a new chief marketing officer. Shares closed Wednesday at $9.08.
Wells Fargo rose 7.8% to $28.34 Tuesday after Raymond James raised the stock’s rating to outperform with a target price of $32. Shares closed Wednesday at $28.59.
U.S. Steel rose 22.8% to $14.19 Tuesday after GLJ upgraded the stock, citing outlook for demand. Shares closed Wednesday at $14.38.
Coming up short
Gap Inc. fell 19.6% to $21.60 Wednesday after posting lower than expected earnings due to a 20% sales decline in its physical stores.
Picking up slack
Remote work app maker Slack jumped 37.6% to $40.70 Wednesday after reports that it could be acquired by Salesforce, which saw its stock fall 5.4% to $246.82 on the news.