Apple, Alibaba, Nikola, Macy’s & extra
Check out the companies that are making the headlines in midday trading.
Nikola – The electric vehicle maker’s shares were down 8.5% as shares continued to decline following the announcement of the end of a garbage truck development deal with Republic Services. The stock lost 10.7% on Wednesday. Wedbush Securities called the announcement “a tough pill for cops”.
Macy’s – The retailer was down 3.4 on the weakness in the sector as investors weighed the ongoing impact of Covid on businesses. Kohls fell 2%.
Marathon Oil – The oil company’s stocks fell 2.6% as the sector returned some of its gains from the previous session. On Wednesday the energy sector gained 2.2%, making it the top performing S&P sector. Devon Energy and Apache Corporation also came under pressure Thursday, falling more than 2% each.
Apple shares rose another 0.77%, increasing their gains to 4.2% this week. Progress came after Reuters reported that the tech giant is accelerating its automotive efforts and aiming for self-driving vehicles to be produced in 2024.
FuboTV – Streaming TV stock fell 16% after LightShed Partners initiated coverage of the company with a sell rating. The stock lost 15.2% on Wednesday after posting five sessions in a row of double-digit percentage gains.
Alibaba – Shares were down 13.3% after it was revealed that the China-based e-commerce giant is the target of a newly launched antitrust investigation by the Chinese government. The main problem was a practice that forces traders to choose one of two platforms instead of being able to work with both.
– CNBC’s Yun Li, Maggie Fitzgerald and Jesse Pound contributed to the coverage.
Subscribe to CNBC PRO for exclusive insights and analysis as well as live business day programs from around the world.
Comments are closed.