FedEx, Continental Resources, Oracle, and other companies are among the midday stock movers.
Continental Resources — Shares jumped 15% after the shale company announced an all-cash buyout offer from billionaire founder Harold Hamm’s family trust.
FedEx — The parcel transportation company’s stock rose 14.4% after the company increased its quarterly payout by more than 50% to $1.15 per share. FedEx also announced the addition of two directors to its board of directors as part of a deal with hedge fund D.E. Shaw. Shaw.
Oracle — The database software company’s stock jumped more than 10% after it reported fiscal fourth-quarter results that above analysts’ expectations on both the top and bottom lines. Cloud infrastructure has seen a “significant surge in demand,” according to CEO Safra Catz.
Occidental Petroleum, Phillips 66, and Marathon Oil all saw their stock prices rise on Tuesday as oil prices rose. Occidental Petroleum shares increased by 3.8 percent, Phillips 66 by 2.7 percent, and Marathon Oil by more than 1%.
National Vision — The optical retailer’s stock soared 5% after it was announced that it would join the S&P SmallCap 600 index this week. Renewable Energy Group was acquired by Chevron and will be replaced by National Vision.
Twitter – Following news that Elon Musk may address Twitter employees during an all-hands meeting this week, shares rose by less than 1%. Musk has been back and forth on a $44 billion deal to buy the social networking business.
C.H. Robinson Worldwide — Following a Reuters report, C.H. Robinson Worldwide’s stock jumped 6%. DSV A/S, a Danish transport company, has expressed interest in Robinson Worldwide’s international cargo transport business. Robinson’s global freight company is said to be worth $9 billion.
Nokia — Shares of the Finnish communications network company climbed 2.2 percent in New York after Citi upgraded them to buy from neutral. Nokia has stopped losing market share to competitors, according to the investment firm, and its margin projections are reasonable.