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Stocks making the biggest moves midday: Apple, Chevron, Bilibili, Hibbett & more

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Check out the companies making headlines in midday trading Tuesday.

Bilibili — Shares surged 22% after Bilibili posted better-than-expected earnings and revenue. The Chinese internet company’s daily and monthly active users rose 25% from the prior year.

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Hibbett — Shares of Hibbett dropped 11.5% after the company posted a disappointing profit for the third quarter. The sporting goods retailer said higher expenses cut into its profit margins.

JD.com — Shares of U.S.-listed Chinese internet companies rose as a group after Chinese health authorities reported an improvement in recent senior vaccination rates. Shares of JD.com were up 6.7%. Pinduoduo and Baidu climbed 5.9% and 5.3%.

HSBC — The stock jumped more than 4.1% after HSBC said it would sell its Canadian unit to the Royal Bank of Canada for $10.1 billion.

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Apple — Shares of Apple fell 2.1% as investors remained concerned over risks to the tech company’s supply chain amid Covid unrest in China.

23andMe — Shares rose 1.8% after Berenberg initiated coverage of 23andMe with a buy rating, saying that the DNA testing company has a “next-generation” platform. The firm’s $7 price target implies the biotech stock could surge more than 100% from here.

United Parcel Service — The transport stock added 2.8% following an upgrade to buy from hold by Deutsche Bank. The bank said macro concerns are already priced into shares.

Chevron — The energy stock rose 1.5% as oil prices rebounded from Monday’s sell-off. U.S. West Texas Intermediate crude futures briefly climbed $2 a barrel. Earlier this week, Chevron received permission to resume pumping Venezuelan oil for the first time in years.

Wynn Resorts, Las Vegas Sands — Shares of casino operators Wynn Resorts and Las Vegas Sands jumped 2.7% and 2.3% respectively on news that China has given new licenses to operators in Macao so that they can keep operating amid the government’s zero Covid policy.

Darden Restaurants — Shares of Olive Garden’s parent company slipped roughly 1.3% following a downgrade to neutral from Baird. The firm said the “risk/reward looks more balanced” for Darden Restaurants following the stock’s recent outperformance.

— CNBC’s Michelle Fox, Yun Li, Carmen Reinicke and Samantha Subin contributed reporting

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Source: CNBC

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