General view of Micron Technology’s building in Singapore, June 23, 2020.
Micron Gcm Studio | Reuters
Check out the companies making the headlines during Monday’s midday trading session.
Block — Shares of settlement stock lost 3% after one downgrade to market performance outperforms KBW. The company cited pressures from “‘small risks starting to mount'”, including potential regulatory scrutiny of its Cash Apps business.
Tesla – Shares of Elon Musk’s electric car company fell more than 1.5% after the company Another discount announcement in the US, for the fifth time since the beginning of the year. The move comes as stricter US standards are set to reduce the $7,500 tax credit available to Tesla’s Model 3. The EV maker also said on Sunday that it will Open a new Megafactory in Shanghai capable of producing 10,000 Megapacks — large batteries — a year.
Pioneering natural resources – Shares of the fracking giant rose almost 6% after The Wall Street Journal reported that Exxon Mobil held informal talks to acquire Pioneer. Exxon shares fell 0.6%.
Micro technology — Shares of Micron Technology rose 8% after rival Samsung Electronics announced that it plans to cut memory chip production next time. Many Wall Street analysts said the move could accelerate the return to supply-demand balance and the potential for a recovery in the chip manufacturing sector. giant chip Western Digital also added about 8%.
superior energy, EQT and other gas stocks — Shares of Excelerate Energy, EQT and other gas stocks edged higher as natural gas futures prices rose. Excelerate is up more than 1%, while EQT is up 3.7% and Resources Matador up 2.9%. Excelerate also got a boost from a new Deutsche Bank report, in which the company started covering the stock, rating it as a buy and saying it was trading below other companies. company in the same industry.
Apple, Google, Microsoft — Shares of major technology companies were in the red in Monday’s trading session. Apple’s stock price lost 2%, Google’s parent company Alphabet fell 2.8% and Microsoft lost 1.4%.
Taiwan Semiconductor – Shares of the chip giant fell 2.2% in midday trading after the company saw its monthly revenue fall for the first time in four years. Shares are still up about 17% since the start of the year. Last month, Bank of America price target upgrade about the company, believes it will benefit from investor interest in innovative artificial intelligence.
New fortress energy — Stocks up 4% after Deutsche Bank start a new Fortress as a purchase. The bank said the company is well positioned in the liquefied natural gas sector, which it believes has “the potential to create significant investment opportunities”.
Nicholas — Shares fell 3% after Evercore ISI reiterated its appropriate rating. The company also cut its price target halved to $1, saying the company had too many obstacles.
The year below — Shares of the discount retailer jumped 3.9% after Roth MKM said Five Below could be helped by the success of “The Super Mario Bros. Movie,” which reported better-than-expected box office results. guess.
Entertainment AMC, IMAX, Cinema is holdings — Shares of major theater chains surged Monday following the box office success of “The Super Mario Bros. Movie” produced by Universal Pictures. The film has grossed more than $200 million in the US, according to Box Office Mojo. Shares of AMC rose 6.7%, IMAX gained 2% and Cinemark gained 5.7%.
— CNBC’s Jesse Pound, Hakyung Kim, Samantha Subin, Yun Li, Alex Harring and Brian Evans contributed reporting
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is the distributor of “The Super Mario Bros. Movie.”
