Movers & Shakers: CSX shares come off the rails while Peloton goes up a gear, and other early Friday movers

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Here are some of the biggest movers of the day:

Stock gainers:

Digital World Acquisition Corp.  
DWAC,
-2.05%
,
the special purpose acquisition company (SPAC) looking to take Donald Trump’s Truth Social media company public, soared 20% in premarket trades after the SPAC reached a settlement with the Securities and Exchange Commission over fraud charges. 

RedHill Biopharma Ltd.‘s
RDHL,
+1.65%

stock rallied 10% in premarket trades after the company said it has received a further $1.7 million in U.S. government funding for its partner, Apogee, to develop a treatment for gastrointestinal acute radiation syndrome. 

Peloton Interactive
PTON,
-5.21%

stock topped a gently upbeat leaderboard early Friday, gaining nearly 4% on decent premarket volume. The fitness group is due to publish earnings next month as management strives to revive the former lockdown darling.

Harley-Davidson Inc.
HOG,
-0.38%

jumped 3% after D.A. Davidson upgraded it to buy from neutral ahead of its second-quarter financial update on July 27.

Stock decliners:

CSX Corp.
CSX,
-0.27%

shares fell nearly 4% in premarket trading Friday after the railroad operator reported second-quarter sales that missed expectations, dragged by lower fuel and coal prices and weaker shipping volumes.

PPG Industries Inc. 
PPG,
-0.36%
,
paint and coatings maker,  was down more than 2%. The company reported second-quarter results that beat Wall Street’s estimates, and it raised its full-year profit forecast. But management warned of continued “tepid” industrial production and lower home sales.

Sirius XM Holdings
SIRI,
+42.26%

were down about 8%. The stock jumped 42% on Thursday on an apparent combination of short covering, an unwinding of a spread trade involving Liberty SiriusXM, and possible buying related to a rebalancing of the Nasdaq 100 index.