Stocks making the biggest moves midday: Mission Produce, Nutanix, Alphabet, Tesla and more
Check out the companies making headlines in midday trading Friday.
Energy — Energy stocks outperformed on the S&P 500 following a rise in oil prices, which jumped Friday on expectations of a drop in Russian crude supply. Shares of Halliburton, Devon Energy, Chevron and Marathon Oil rose by more than 2% each.
Alphabet — The tech stock gained more than 1% after The National Football League said Thursday that its “Sunday Ticket” subscription package will go to subsidiary YouTube starting next season.
Biogen — The biotech stock declined fell slightly after Biogen’s Japanese partner, Eisai, said a third person has died during a trial of their experimental Alzheimer’s treatment, confirming Reuters reports.
Carnival, Norwegian Cruise Line — Cruise line operators declined as fears of a recession weighed on consumer discretionary stocks, which was one of three worst-performing sectors in the S&P 500. Shares of Carnival were down more than 4%, while Norwegian Cruise Line was down more than 2%.
Tesla — Shares of the electric vehicle maker declined 2% after CEO Elon Musk said that he would hold off on selling any more Tesla stock for the next 18 to 24 months. Over the past year, Musk sold roughly $39 billion in shares.
3M Company — 3M shed 1.6% after a U.S. judge barred the company from shifting liability to a subsidiary for injuries suffered by military members from allegedly defective earplugs. The judge said 3M deserved the “harshest penalty” for its “bad faith” attempts to transfer liability, Reuters reported.
Nutanix — Shares of Nutanix fell more than 5% after Dealreporter reported that Hewlett Packard Enterprise has halted talks to acquire the cloud computing company. Hewlett Packard confirmed in a statement to CNBC that “there are currently no discussions with Nutanix.”
Mission Produce — Shares of the avocado producer dropped more than 14% after the company reported financial results for its most recent quarter. It posted lower-than-expected profit and revenue as the rise in volume was not enough to offset a plunge in the prices of avocados.
— CNBC’s Tanaya Macheel and Michelle Fox contributed reporting.
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