Stocks making the biggest moves midday: Apple, Alibaba, Nikola, Macy’s & more

Market Insider

Check out the companies making headlines in midday trading. 

Nikola — Shares of the electric vehicle company shed more than 3% as the stock continued its slide after 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 to swallow for bulls.”

Macy’s — The retailer slid more than 3% amid weakness in the sector as investors weighed the ongoing impacts of Covid on stores. Kohl’s also fell 3%, while L Brands and Under Armour were each down more than 2%.

Marathon Oil — Shares of the oil company slid 4% as the sector gave back some of its gains from the previous session. On Wednesday, the energy sector advanced 2.2%, making it the top-performing S&P sector. Devon Energy and Apache Corporation also came under pressure on Thursday, each declining more than 3%.

Apple — Shares gained another 1.5%, bringing their gains this week to nearly 5%. The advance came after Reuters reported that the tech giant is moving ahead with its automotive efforts, targeting 2024 to produce self-driving vehicles.

FuboTV — The streaming television stock dropped nearly 9% after LightShed Partners initiated coverage of the company with a sell rating. The stock lost 15.2% on Wednesday, after posting five straight sessions of double-digit percentage gains.

Alibaba — Shares tanked 13% on news that the China-based e-commerce giant is the target of a newly launched antitrust investigation by the Chinese government. The primary issue named was a practice that forces merchants to choose one of two platforms, rather than being able to work with both.

— CNBC’s Yun Li, Maggie Fitzgerald and Jesse Pound contributed reporting.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Articles You May Like

Top Wall Street analysts are upbeat on these dividend stocks
3 Stocks to Buy Even in the Middle of Election Chaos 
The pros and cons for investors of nonstop trading as NYSE looks to go 22 hours a day
Alphabet Earnings: Waymo’s Growth Sets GOOGL Stock on Fire
MicroStrategy, the largest corporate bitcoin holder, to raise more than $40 billion to buy more bitcoin