Shares of Kohl's Corporation (NYSE:KSS) more than doubled in value on Tuesday in a stunning rally fueled by retail investor enthusiasm, surging short interest, and frenzied options trading despite no apparent news from the US department store chain.
The stock jumped as much as 105% in premarket trading before opening up 87%. By early afternoon, it had pared gains but remained up 35% at just over $14, prompting a volatility halt earlier in the session.
Philip Morris International Inc (NYSE:PM, ETR:4I1) posted a revenue miss for the second quarter as cigarette shipment volumes declined 1.5% year-over-year, sending its shares lower on Tuesday morning.
The Marlboro and Virginia Slims producer reported revenue of $10.14 billion, short of the Wall Street consensus of $10.28 billion.
Black Swan Graphene (TSX-V:SWAN) told investors that it has ordered a new production unit that will more than triple its annual graphene production capacity to 140 tonnes as part of its ongoing effort to scale up the supply of graphene-enhanced masterbatch (GEM) materials amid growing commercial engagement.
The new production unit will be installed at the company’s existing facility located at Thomas Swan & Co in the UK, Black Swan said in a commercial update on Tuesday.
Lockheed Martin Corp (NYSE:LMT) stock tumbled more than 5% in early trade as program losses hit its profits for the second quarter.
The defense and aerospace firm reported pre-tax losses on programs of $1.6 billion and other charges of $169 million, which impacted earnings per share by $5.83.
374Water Inc (NASDAQ:SCWO) has delivered and mobilized its AirSCWO 6 System to Clean Earth’s facility in Detroit to begin a series of commercial-scale demonstrations as part of a US Department of Defense (DoD) initiative to destroy PFAS-contaminated waste.
The testing campaign, expected to start in August following a three-week installation and commissioning period, is part of a previously announced project led by the Defense Innovation Unit (DIU) and the Environmental Security Technology Certification Program (ESTCP).
General Motors Company (NYSE:GM) shares fell almost 7% after the automaker reported a drop in profit for the second quarter due to new global tariffs.
The company reported adjusted earnings before interest and taxes (EBIT) of $3 billion, down from $4.4 billion in the same period last year, attributed to a net tariff impact of $1.1 billion.