US markets opened lower on Wednesday morning amid mixed signals from major tech stocks, with earnings updates sending Microsoft higher but Google parent company Alphabet lower.
Gold and oil prices are down, but Bitcoin is trading higher.
Today’s trending stocks are:
Boeing Co (NYSE: BA)
This giant of the skies has seen its share price drop after a lackluster first quarter update included a wider than expected loss and lower than anticipated revenue. Furthermore, fresh delays mean that Boeing has had to halt production of its 777x line until next year, adding further uncertainty for investors.
Boeing President and CEO Dave Calhoun commented:
“Through our first-quarter results, you’ll see we still have more work to do; but I remain encouraged with our trajectory, and we are on track to generate positive cash flow for 2022.
“We are a long-cycle business, and the success of our efforts will be measured over years and decades; not quarters. The deliberate actions we’re taking now will drive stability in our operations and position us for long-term, sustainable performance.”
The engineering behemoth has seen its share price slip by nearly 10% since the market opened on Wednesday.
Nutex Health (NASDAQ: NUTX)
Nutex shares are buoyant on Wednesday morning, having climbed by nearly 10% since the opening bell. There’s no company-specific news that seems to be steering its share price higher, though the technology-enabled healthcare services company is seeing far higher trading volume than normal.
The stock only began trading on the NASDAQ earlier this month, joining the index after a merger with Clinigence Holdings.
Acutus Medical (NASDAQ: AFIB)
This business was also in the green after it announced that it had reached an agreement to sell its left-heart access portfolio to medical device giant Medtronic (NYSE: MDT). Additionally, Acutus Medical announced a commitment letter from Deerfield Management Company to refinance its existing debt with a new longer-term credit facility.
The company said the combination of these two transactions, along with recently completed restructuring efforts, would result in a comprehensive recapitalization of the business to fund strategic growth priorities.
Consequently, the company’s share price had increased by almost 40% in early trading this morning.
Vivakor Inc (NASDAQ: VIVK)
This clean technology specialist has seen its share price rocket on Wednesday morning after it signed a 10-year contract that could be worth as much as $250m. The company has agreed to supply Hot Oil Transport with up to 50,000 tons of ratable asphalt cement.
Vivakor CEO Matt Nicosia said:
“We have already produced tonnage of asphaltic cement with our Vernal, Utah RPC and believe that by the end of the year we will have ramped up our infrastructure to include three additional RPCs to operate the site to the level required to fulfill the full amount of material requested by HOT on an annualized basis. This could be a significant event for shareholders as this project, when fully scaled, could contribute meaningful profits.”
The company’s share price has stormed more than 120% higher in early trading on Wednesday in response to the news.
Enphase Energy (NASDAQ: ENPH)
This solar energy specialist is shining bright today after it impressed investors with its first quarter earnings update. The company topped estimates for earnings and revenue for the three-month period, while it also looked to the future with optimism.
The company said it was “tripling down” on projects in Europe, looking to take advantage of the strain on energy prices that the continent is facing in the wake of Russia’s invasion of Ukraine. The company has existing operations in nations like Germany, who are looking to reduce their reliance on Russian fossil fuels and so are likely to embrace alternative projects.
AS such, the business said it expected revenues to increase by at least $50m in the second quarter, estimating that they will fall between the range of $490m and $520m. Consequently, Enphase’s share price climbed by more than 11% in early trading on Wednesday.
