Stocks closed mostly higher Tuesday as traders weighed the impact that the fast-spreading COVID-19 Delta variant might have on the economy's recovery and monitored comments from Federal Reserve officials about scaling back support.
Here are some of the big movers in the stock market Tuesday:
1. Fisker | Increase 22%
Fisker (FSR) - Get Fisker Report shares climbed after Morgan Stanley resumed coverage of the electric vehicle company with an overweight rating and a $40 price target. Analyst Adam Jonas said in a research note that Fisker "may be one of the only EV-related startups to actually launch on time and ramp efficaciously in late 2022."
2. 3D Systems | Increase 22%
3D Systems (DDD) - Get 3D Systems Corporation Report stock jumped after the 3D printing company posted second-quarter earnings and sales that topped analysts' forecasts thanks to strong demand for its printers and printing materials in the healthcare and industrial sectors. For 2021, 3D Systems said it expects gross profit margins of between 40% and 44%.
3. Kansas City Southern | Increase 7.5%
Shares of Kansas City Southern (KSU) - Get Kansas City Southern (KSU) Report climbed after a report said Canadian Pacific (CP) - Get Canadian Pacific Railway Limited Report was preparing to offer $300 a share for the company, reigniting a battle with rival Canadian National (CNI) - Get Canadian National Railway Company Report for the U.S. rail operator. Canadian Pacific’s board met Monday to approve the offer, which values Kansas City Southern at about $27 billion, The Wall Street Journal reported.
4. Lightning eMotors | Increase 81%
Lightning eMotors (ZEV) - Get LIGHTNING EMOTORS, INC Report took off after the electric vehicle company said it had entered into a strategic partnership with Forest River to deploy up to 7,500 zero-emission shuttle buses. The agreement has a potential estimated value of up to $850 million. Lightning eMotors will build fully electric powertrains and provide charging products, and services for Forest River over the next four and a half years.
5. Trade Desk | Increase 7.6%
Shares of Trade Desk (TTD) - Get Trade Desk, Inc. Class A Report rebounded from a slide after the online-advertising-services company reported stronger-than-expected second-quarter results but voiced caution in its earnings guidance. Revenue doubled to $280 million, beating the FactSet-compiled analyst estimate of $261.6 million.