Check out the companies that are making headlines in midday trading.
Nikola – The electric vehicle maker’s shares fell 8.5% as shares continued to decline following the announcement of the end of a garbage truck development deal 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 of the sector as investors weighed the ongoing impact of Covid on stores. Kohls fell 2%.
Marathon oil – The oil company’s shares fell 2.6% as the sector returned some of its gains from the previous session. On Wednesday the Energy sector increased by 2.2%, making it the top performing S&P sector. Devon Energy and Apache Corporation also came under pressure on Thursday, declining more than 2% each time.
Apple – Shares gained another 0.77%, rising to 4.2% this week. The progress came after Reuters reported the tech giant was making its strides Automotive effortsThe goal for 2024 is to manufacture self-driving vehicles.
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 rose 13.3% after it was revealed that China-based e-commerce giant the target 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.
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