U.S. Movers: Ally Financial, BlackBerry, Boeing, Lucid Group, Norfolk Southern

Scott Peters
09 Apr, 2024
New York City

Boeing Co. declined 0.5% to $180.83 and extended two-day losses to more than 4% after Southwest Airline flight lost engine cover during flight takeoff from Denver, Colorado, to Houston, Texas, on Sunday. 

Southwest Flight 2695 flying Boeing 737 800 jet plane safely returned to the ground after reaching altitude of 3,140 meters with 135 passengers and six crew members. 

Boeing has been under intense scrutiny from aviation regulators and airlines after a series of mishaps and safety lapses over the last four years. 

Southwest decreased 0.8% to $28.43. 

Ally Financial increased 1.3% to $39.26, and Discover Financial Services chief executive Michael Rhodes was appointed as chief executive of the company. 

Lucid Group rose 3% to $2.72 after the electric vehicle maker reported better-than-expected vehicle sales in the first quarter. 

The company sold 1,967 vehicles in the quarter ending in March, and manufactured 1,728 vehicles in the period. 

Lucid produced 2,391 vehicles during the December quarter and delivered 1,734 vehicles during the same period.

Last month, the embattled company raised $1 billion from Ayar Third Investment Company, an associate company of Saudi Arabia's sovereign wealth fund. 

Norfolk Southern rose 1.1% to $252.86, after the railroad company struck a class action settlement of $600 million, which still needs approval from the court.

The Atlanta, Georgia-based company said it has already spent more than $1.1 billion cleaning up after a train derailed in East Palestine, Ohio, spilling over toxic chemicals in February 2023. 

The settlement covers compensation to businesses, residents, and communities impacted by the spilling of hazardous chemicals. 

If approved by the court, the agreement will resolve all class action claims within a 20-mile radius of the derailment and, for those residents, personal injury claims within a 10-mile radius of the derailment.

Norfolk Southern is still facing lawsuits from shareholders, the Justice Department, and Ohio State. 

BlackBerry Ltd. increased 8% to $3.11, and the cyber security company announced a partnership with Advanced Micro Devices for its robotics platform for advanced applications in healthcare and industrial applications.