Afternoon Movers: C, MOT, TSLA, STST, ABII, CTIC
Wednesday, June 30, 2021 2:56 PM

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US stocks trimmed gains on Wednesday after Moody's credit rating agency warned that it could lower Spain's top Aaa rating by one "or at most two, notches" at the end of the three-month review period.

Citigroup (NYSE: C) shares climbed 8 cents or 2.14% to $3.81 in mid-day trading on volume of over 324 million. The three-month average daily volume for Citigroup is 823.24 million. Shares of major US banks rose on Wednesday as weaker-than-expected demand for 3-month loans offered by the ECB eased fears about the health of the eurozone's banking system. 

Motorola, Inc. (NYSE: MOT) plunged 2.79% to $6.61 in afternoon trading. Bloomberg on Tuesday reported that Apple (NASDAQ: AAPL) will start offering the iPhone on Verizon Wireless in January 2011. The report arrives on the heels of the Droid X introduction by Verizon last week.

Tesla Motors Inc. (NASDAQ: TSLA) soared 9.92% to $26.26 in its second day of trading. Shares of the Palo Alto, California based electric car manufacturer closed up more than 40 percent in its first day of trading on Tuesday.

Argon ST (NASDAQ: STST) jumped more than 40% to $34.30 after Boeing Co. (NYSE: BA) agreed to acquire combat-systems provider Argon ST (NASDAQ: STST) in an all-cash deal valued at $775 million. 

Abraxis BioScience (NASDAQ: ABII) rallied 21.51% to $74.50 after Celgene (NASDAQ: CELG) agreed to buy oncology drugs maker for $2.9 billion in cash and stock.

Cell Therapeutics, Inc. (NASDAQ: CTIC) surged 4.45% to $0.38 on volume of over 4.79 million. The cancer treatment firm announced late Tuesday that the company has adjourned today's Special Meeting of Shareholders and is no longer soliciting proxies with regard to that meeting.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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