Market Updates
Solar Power Stocks Jump On Tariffs Pause
Barry Adams
06 Jun, 2022
New York City
Apple Inc jumped 1.6% to $146.90 and the company is set to kick-off its annual Worldwide Developers Conference today.
Didi Global surged on news that Chinese authorities are concluding investigations of the company and the ride-hailing company will be permitted to add new users.
The news was first reported by the Wall Street Journal.
ON Semiconductor jumped 6.1% to $62.94, VICI Properties gained 6.4% to $31.39, Keurig Dr Pepper advanced 5.9% to $34.93 after three companies were selected to be included in the popular S&P 500 index.
Under Armour declined 0.8% to $10.08 after the company's stock was dropped from the S&P 500 index.
Spirit Airlines jumped 5.7% to $20.74 after JetBlue sweetened its bid to $31.50 a share and proposed to increase breakup fee to $350 million.
Solar stocks surged on a report that the President Biden's administration will suspend tariffs on solar panel components for 24 months from Cambodia, Malaysia, Thailand, and Vietnam.
The U.S. paused tariffs after a Commerce Department month-long investigation had held up imports on the worries that Chinese companies may have been transshipping products from these countries.
Sunrun Inc soared 10.5% to $29.55, SunPower Corporation jumped 6.4% to $19.52, and Array Technologies advanced 14.5% to $13.71.
"Existing duties on Chinese and Taiwanese imports of solar cells and modules remain in effect,
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