Stocks making the biggest moves midday: Carnival, Dell, AMC Entertainment and more

Dell CEO Michael Dell delivers a keynote address during the 2013 Oracle Open World conference on September 25, 2013 in San Francisco, California.

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Check out the companies making headlines in midday trading.

Carnival, Norwegian Cruise Line, Royal Caribbean – Shares of the major US cruise lines jumped on Wednesday amid optimism about a swift economic recovery from the pandemic. Shares of Carnival gained about 3%. Norwegian Cruise Line and Royal Caribbean gained 2.3% and 1.3%, respectively.

AMC Entertainment — Shares of the movie theater stock dropped more than 2% after Loop reiterated its sell rating on AMC Entertainment. The Wall Street firm said “AMC’s competitive position … has not improved, its enterprise value has almost doubled while its closest competitor’s value has declined.”

Dell – Shares of the computer company advanced 2.6% after Deutsche Bank called the stock a top recovery idea. “We believe its shares will continue to outperform as IT spending recovers as we go through this calendar year,” the firm wrote in a note to clients. Shares of Dell are up 25% for the year.

Li Auto – Shares of the China-based electric vehicle maker dropped more than 9% after the company announced a new $ 750 million debt offering to fund research and development. The stock has fallen 20% this year.

Genworth Financial – Shares of the insurance company slid 4.7% after Genworth terminated its deal to be acquired by China Oceanwide Holdings. “Genworth’s Board of Directors has concluded that Oceanwide will be unable to close the proposed transaction within a reasonable time frame and that greater clarity about Genworth’s future is needed now in order for the company to execute its plans to maximize shareholder value,” the company said in a statement. The merger was first proposed in 2016.

Qiagen – The biotech stock rose more than 1% after Qiagen announced a new product to help sequence the genomes of the Covid-19 virus more quickly. Sequencing the genomes can help scientists detect new variants of the virus. The Netherlands-based company said its new testing kit could analyze more than 6,000 samples at the same time.

Ebang International Holdings – Shares of the Chinese blockchain company fell 2.3% on Wednesday even as Ebang pushed back against a short-seller report from Hindenburg Research. The company said the report, released on Tuesday, contained “many errors, unsupported speculations and inaccurate interpretations of events.”

Niu Technologies – Shares of Niu dipped nearly 5% despite unveiling its first electric kick-scooter. The China-based company planning to make the two-wheeled transportation device available in North America, China and Europe this summer.

– with reporting from CNBC’s Yun Li, Pippa Stevens and Jesse Pound.

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