Twitter, Carnival, First Solar, and more

Here are the companies that are making the headlines in midday trading.

Twitter The social media company’s shares rose more than 3% after Twitter announced that Elon Musk will join its board of directors. The stock rose 27% in the previous session on its best day even after Musk disclosed a 9.2% stake. The Tesla CEO said there could be “significant improvements” to Twitter in the coming months.

carnival Cruise inventory rose more than 2% after Carnival said March 28-April 3 was the busiest booking week in the company’s history. Carnival has 22 of its 23 ships operating again after the pandemic effectively halted the global cruise industry.

First Solar – Solar panel stock fell 4.8% after a Rating downgrade from neutral on Bank of America. The investment firm said in a note that First Solar received “a lot of credit for a reality that never materialized.”

Ralph Lauren Shares of the apparel retailer fell 3.7% mid-day. Ralph Lauren stock was reduced to an equal weight of overweight by Wells Fargo analysts, who said on Tuesday they were cautious about the near-term picture for the sector. Analysts said the hit to consumer spending is likely to hit mid-market retailers.

MarketAxess Holdings Shares of the fixed-income trading platform fell more than 9% after MarketAxess released its monthly volume statistics for March. The company’s average total monthly credit volume is down 3% from March 2021.

Starbucks — Shares of the coffee chain fell another 4.1% on Tuesday, as Wall Street digested the decision of returning CEO Howard Schultz to halt the company’s share buyback program. The stock fell 3.7% on Monday. Wedbush lowers Starbucks’ rating to neutral of outperformance, with mention in a note to clients that she was less confident in the company’s earnings.

Queen Piece Cryptocurrency exchange shares sank 7.4% Tuesday after investment firm Mizuho highlighted spending on non-fungible tokens as an increasing cost to Coinbase. Mizuho also lowered its share price target.

Carvana – Used car dealer inventory fell more than 9% after a downgrading the sector’s performance At RBC Capital Markets. RBC said in a note that it was skeptical that Carvana’s fundamentals could support its expansion plans.

CNBC’s Yoon Lee and Sarah Min contributed to this report.