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Domino’s Pizza Stock Surges 11% as Uber Eats and Postmates Offer Ordering Through Apps

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Companies Making Significant Moves Midday

Domino’s Pizza

The stock of Domino’s Pizza surged nearly 11% after the company announced that U.S. consumers can now order its products through Uber Eats and Postmates apps. This agreement has the potential to add incremental orders from Uber Eats to 70% of Domino’s stores.

DraftKings

Shares of the sports betting app, DraftKings, rallied about 5% following an upgrade to buy by analysts at Bank of America. The Wall Street firm cited an “inflection point” in margins and profitability.

Roku

Shares of the streaming provider, Roku, gained 1% as the company announced its partnership with Shopify. This collaboration will allow viewers to purchase products directly from Roku TV by simply pressing a button on their Roku remote.

Lazard and Jefferies Financial

Shares of Lazard increased by 3.9% while Jefferies Financial gained 5.8% after both companies were upgraded by Morgan Stanley. The firm expects growing merger and acquisition activity, upgrading Lazard to overweight from equal weight and Jefferies to equal weight from underweight.

Bank Stocks

Bank stocks jumped after consumer prices came in lower than expected. Citigroup and Goldman Sachs gained 2.6% and 2% respectively. KeyCorp rallied nearly 5%, while Zions Bancorporation and Comerica added about 4%.

Lucid Group

The electric-vehicle maker, Lucid Group, saw its stock decline by 12% after its second-quarter deliveries fell short of analysts’ estimates. Lucid delivered 1,404 of its electric Air luxury sedans, while analysts expected 2,000 deliveries.

SunPower

Shares of the solar power company, SunPower, surged 9.4% after being upgraded by Raymond James to strong buy from outperform. Analyst Pavel Molchanov called this year’s sell-off “excessive” and set a price target of $21, implying 120% upside from Tuesday’s close.

Stellantis

The vehicle manufacturer, Stellantis, gained 3.3% after being upgraded by Bank of America to buy. The firm believes Stellantis could benefit from ample exposure to the U.S. market.

Beyond Meat

The plant-based meat alternative, Beyond Meat, rose 3.3% following the announcement that its steak product will now be sold at about 14,000 stores across the U.S., including Wegmans and Whole Foods.

Acadia Healthcare

Shares of Acadia Healthcare tumbled 4% after a New Mexico jury found the company responsible for damages totaling $485 million in a lawsuit related to a sexual assault in one of its now-defunct residential treatment facilities. Acadia said it is evaluating all legal options and will challenge the verdict.

Holley Inc.

Shares of the auto parts maker, Holley Inc., jumped more than 20% following upgrades by Bank of America and JPMorgan Chase. JPMorgan stated that the company is “back on track,” while Bank of America noted that it is “firing on all cylinders.”

— WS News Publishers’s Yun Li, Alex Harring, Samantha Subin, and Michael Bloom contributed reporting.

With over a decade of experience, Brice Foster is an accomplished journalist and digital media expert. In addition to his Master's in Digital Media from UC Berkeley, he also holds a Bachelor's in Journalism from USC. Brice has spent the past five years writing for WS News Publishers on a variety of topics, including technology, business, and international affairs.

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