Hot Stocks: LCID climbs on capital raise; FDS dips on earnings; MKSI, WHR move on analyst commentary
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News that the company has negotiated an influx of cash, including an investment from a firm affiliated with Saudi Arabia's sovereign wealth fund, triggered buying in Lucid Group (NASDAQ:LCID) during Tuesday's midday trading.
Meanwhile, analyst commentary represented a significant catalyst as well. MKS Instruments (MKSI) rose on an upgrade, while Whirlpool (WHR) lost ground in the wake of a downgrade.
Elsewhere, FactSet Research Systems (FDS) declined after it announced its quarterly results.
Gainers
Lucid Group (LCID) received buying interest after it secured an influx of cash by conducting an at-the-market equity offering program. The electric vehicle maker detailed that the sale included 56.2M shares and brought in gross proceeds of about $600M.
This stock sale came in addition to $915M that LCID plans to receive through a private placement to Ayar Third Investment Company, an affiliate of the Public Investment Fund, the sovereign wealth fund of Saudi Arabia. LCID rose about 4% on the news.
Elsewhere, MKS Instruments (MKSI) climbed 3% in intraday action after KeyBanc upgraded the stock. The firm raised its rating on the maker of process control instruments to Overweight from Sector-Weight. In making the decision, analyst Steve Barger cited MKSI's "strong competitive advantage."
Decliners
FactSet Research Systems (FDS) ticked lower following the release of mixed Q1 results. Shares of the financial data and software company retreated 2% in midday trading.
The firm's profit topped expectations. However, FDS failed to beat revenue predictions, even with a top-line figure that rose almost 19% to about $505M. 
In another standout decline, a negative analyst comment sent Whirlpool (WHR) lower by about 2% in intraday action. JPMorgan downgraded the home appliance maker to Neutral from Overweight, pointing to concerns about margins.

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