Movers & Shakers: First Solar shines on Apple deal; Tesla slides ahead of earnings
SAN FRANCISCO (MarketWatch) — Here are stocks making notable moves in the market on Wednesday:
First Solar Inc. FSLR, +1.19% late Tuesday said Apple has committed $ 848 million to get 130 megawatts of power from First Solar’s California Flats solar project in Monterey County, Calif.
Mondelez International Inc.’s MDLZ, +2.68% shares gained after the snacks giant beat fourth-quarter profit expectations.
Genworth Financial Inc. GNW, +6.02% late Tuesday it swung to a fourth-quarter loss of $ 760 million, or $ 1.53 a share, from a profit of $ 208 million, or 42 cents a share, a year earlier. The insurer said it was restructuring operations to save $ 100 million in expenses over the next two years.
Akamai Technologies Inc. AKAM, +2.76% after Tuesday’s close reported adjusted quarterly profit and revenue that topped Wall Street’s forecasts.
Rite Aid Corp. RAD, +9.76% said it has agreed to buy TPG’s EnvisionRx in a deal valued at about $ 2 billion.
After Wednesday’s closing bell, Tesla Motors Inc. TSLA, -2.75% is projected to report adjusted fourth-quarter earnings of 30 cents a share, according to a consensus survey by FactSet.
AOL Inc. AOL, -12.63% reported adjusted quarterly earnings that beat expectations, but fell short on revenue.
Pioneer Natural Resources Co. PXD, -5.68% reported fourth-quarter adjusted earnings of 80 cents a share, short of 93 cents a share forecast by analysts.
Energy stocks were again battered as crude oil traded below $ 50 a barrel. Denbury Resources Inc DNR, -3.66% QEP Resources Inc. QEP, -4.18% and Nabors Industries Ltd. NBR, -3.11% are among the biggest losers.