Learn more about the companies that are making headlines in mid-day trading.
American Airlines, United Airlines, Delta Air Lines – Shares of major American Airlines airlines rose more than 1% on Monday after the White House said it would ease travel restrictions for international travelers who were tested against COVID-19. Vaccinated. Delta and United shares rose initially, but each fell around 0.2%.
Evergrande Group in China – Shares of the struggling Chinese asset giant fell 10% on the Hong Kong Stock Exchange. The company is scrambling to pay its suppliers and has warned investors that it could default on its loans. Last week, the company said its asset sales would continue to decline significantly due to several months of weakness in September.
Centerpoint Energy, Dominion Energy – Utilities stocks rose on Monday as investors turned to defensive play during the broader market decline. Shares of Centerpoint and Dominion rose about 1%.
Nucor, Freeport-McMoRan, Ford, Caterpillar – Global growth stocks fell on Monday. Steel stock Nucor fell 8.4%, mining company Freeport-McMoRan fell 6.6%, automaker Ford 6% and construction equipment maker Caterpillar fell 4.8%.
APA, Devon Energy – Energy stocks fell amid falling oil prices amid concerns about the global economy. The energy sector of the S&P 500 fell 3.3%, becoming the worst performing group of the 11 in Monday’s market sell-off. APA and Devon Energy both fell more than 6%. Occidental Petroleum fell 6% and Hayes fell more than 5%.
Goldman Sachs, Bank of America, JPMorgan Chase – Financial stocks fell as 10-year US Treasury yields fell, with lower rates typically eroding bank profits. Goldman Sachs, Bank of America and Citigroup all lost more than 4%. JPMorgan Chase and Morgan Stanley both fell more than 3%.
Shares of ARK Innovation, Coinbase, Tesla, Zoom, Square – Kathy Wood’s flagship fund fell more than 4% as innovation names sold off. Major stocks Coinbase and Teladoc both lost more than 5%. Unity Software fell more than 5% and Tesla more than 3%. Square and Zoom videos each fell more than 3%.
Pfizer – The drugmaker’s share rose 0.3% after the company said its COVID vaccine is safe and generates a strong immune response in children aged 5 to 11. If the FDA spends as much time reviewing the data for this age group as it did for 12 to 15, the snaps could be available in time for Halloween.
AstraZeneca – Shares of the UK-based pharmaceutical company rose more than 4% in afternoon trading after announcing that its breast cancer drug Enhartu showed positive results in a trial of phase III.
Invesco – Invesco shares fell 9% on Monday. Shares rose on Friday after the Wall Street Journal reported that the asset manager was in talks to merge with State Street’s asset management unit. A deal is not imminent and may not happen at all, according to the report, citing people familiar with the matter.
– CNBC’s Maggie Fitzgerald, Yun Lee and Jesse Pound contributed reporting
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