Cognizant Rallies, Rivian Tumbled, Fiserv Gained

Today’s biggest winners and losers in the stock market, a look at the notable movers.

On this episode of Stock Movers: 

• Shares of Cognizant (CTSH) rallied as much as 6.7% on Tuesday, the highest intraday since June 22, after the company said it’s bolstering its partnership with Google Cloud. Cognizant says it “aims to deploy Gemini Enterprise to 100,000 associates this year, with plans to scale to 200,000, and is certifying a minimum of 10,000 Cognizant professionals on the platform” 
• Shares of Rivian Automotive (RIVN) tumble more than 15% after the electric vehicle firm said it will sell 75 million shares to fund equity contributions related to a US Department of Energy loan. The offering would raise about $1.5 billion at the closing price of $20.14 per share, with Goldman Sachs Group Inc. leading the share sale. Rivian intends to use the proceeds for purposes including making contributions under the amended loan agreement with the Department of Energy. 
• Fiserv (FISV) shares rise as much as 6.9% after the Wall Street Journal reported that big Wall Street banks have held preliminary discussions about a deal to acquire a debit network owned by the financial-technology company. JPMorgan Chase, Bank of America, Wells Fargo and PNC Financial Services Group were the banks involved in the discussions, according to the WSJ.

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