A Boeing 737 MAX 10 airliner stops while taxiing on the airline.
Stephen Brashear | Getty Images
Check out the companies that are making the headlines in midday trading.
Boeing – Boeing’s shares rose 3.2% after Virgin Orbit, a satellite startup spin-off from Sir Richard Branson’s Virgin Galactic, announced it was valued at $ 3.7 billion Stock market will go. Boeing will invest in the deal’s private investment in a public equity round. Virgin Orbit joins special purpose vehicle NextGen Acquisition Corp. II, whose stocks are up 1.9% after the news.
Pfizer, BioNTech – Pharmaceutical company stocks rose Monday after the Food and Drug Administration granted full approval to Pfizer and BioNTech’s Covid-19 vaccine – the first in the US to receive the coveted designation. Pfizer’s shares rose 2.5% and BioNTech rose 9.6%. Moderna shares rose 7.6% in hopes the approval paves the way for the company’s own approval.
General Motors – The automaker’s shares were down 1.3% after General Motors extended the recall of its Chevy Bolt electric car on Friday. It will include newer models, a move that will cost the automaker an additional $ 1 billion. The recall addresses an issue that can increase the risk of battery fire.
Occidental Petroleum, Devon Energy – Energy stocks rose after oil prices rose Monday and posted a seven-day series of losses, the longest crude oil since 2019. Occidental Petroleum rose 6.9%, Devon Energy rose 6.1%, Diamondback Energy was up 5.9% and Marathon Oil was up 5.4%.
Robinhood – Robinhood stocks rose 6.2% despite Wall Street analysts pessimistic on newly listed brokerage stocks. Many investment firms began reporting Robinhood on Monday with neutral or equally weighted ratings, and the stock even received a rare underweight in JPMorgan’s Kenneth Worthington.
Didi Global – Shares in the Chinese ride-hailing app rose 3.4% despite Beijing’s investigation of the company. The Financial Times reported that Didi may be forced to hand over shares with privileges to the Chinese government and the company may be asked to cut drivers’ commissions.
Tesla – Tesla stock rose 3.8% after Deutsche Bank reiterated its buy recommendation for the electric vehicle maker. The company said Tesla’s Artificial Intelligence Day last week set out a “bold vision” and analysts “came out with greater appreciation for Tesla’s efforts in AI.”
Abercrombie & Fitch – The retail apparel stock gained 2.3% after Tesley reiterated its Abercrombie & Fitch outperformance rating and announced “margin widening”. The company plans to publish the results this week.
– CNBC’s Maggie Fitzgerald and Yun Li contributed to the coverage
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