Midday movers: AMC Entertainment, Virgin Orbit, General Motors and more

By Liz Moyer

Investing.com -- Stocks were lower on Tuesday as reports on job openings and factory orders for February came in weaker than expected. Here are the midday movers for April 4.

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares fell 23% after the movie theater operator reached a settlement allowing it to convert its preferred shares to common stock. Virgin Orbit Holdings, Inc. (NASDAQ:VORB) shares were down 25.3% after the commercial satellite launch company sought bankruptcy protection. It was unable to secure enough funding in recent weeks and said it would lay off most of its workers.

General Motors Company (NYSE:GM) shares dipped 1.9% after the auto maker's CFO said 5,000 salaried employees had taken it up on a buyout offer, which will result in a $1 billion charge and put GM on a path to achieving its $2B in cost savings.

Acuity Brands, Inc. (NYSE:AYI) shares were down 11.4% after the lighting maker reported better than expected adjusted earnings per share but missed expectations on revenue.

Etsy, Inc. (NASDAQ:ETSY) shares rose 2.4% after the online craft marketplace got an upgrade from Piper Sandler, which cited its popularity with younger, Gen Z, shoppers. That popularity could help ignite growth in users, the analysts said.

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