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Lanon Wee

The Biggest Stock Market Moves at Midday: Virgin Galactic, iRobot, Cava, SoFi and Beyond

Share prices of Virgin Galactic skyrocketed 13%, as the firm scheduled its first commercial space tourism flight this month following their successful test spaceflight in May. U.K. regulators' approval of Amazon's $1.7 billion acquisition of the Roomba vacuum maker, iRobot, resulted in shares jumping 19%, while Amazon inched down 0.5%. Bank of America's upgrade of West Pharmaceutical Services from neutral to buy drove their stock up 2.3%. Cava Group, however, gave back some of their massive gains from their Thursday debut on the New York Stock Exchange, with their shares decreasing 15%. SoFi Technologies' stock slid 8% due to Bank of America and Piper Sandler downgrading it to neutral from buy. Meanwhile, Adobe's share price increased 2.5% as the company beat expectations and issued positive guidance for fiscal second quarter. Nvidia also registered new record highs, rising 2%, after Morgan Stanley analyst Joseph Moore switched his top pick from Advanced Micro Devices to them. On the other hand, Micron Technology's announcement of a possible China chip ban put their stock down 1.5%. Humana's shares dropped 3.6% as they expected their insurance segment benefit expense ratio to be at the top end of their 86.3-87.3% guidance. Lastly, Truist Financial was downgraded to hold from buy by Odeon Capital Group, with their share price decreasing 1.6%.

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