Stocks making biggest midday moves: Netflix, Bristol-Myers and more

0
0
Our target is to take our local communities to the worldwide audience. Submit your story and we will help you to build your audience. Thank you Roots News Team

The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022.

Dado Ruvic | Reuters

Check out the companies making headlines in midday trading.

Catalent Inc. – Shares of pharmaceutical company Catalent fell 7.4% after earnings that disappointed Wall Street. While Catalent beat expectations for earnings, its revenue and full-year outlook were below estimates.

Dow – The chemical maker dropped 1.6% after KeyBanc downgraded it to underweight from sector weight. The bank said in a note that an economic slowdown, especially in Europe, could hurt demand for Dow and squeeze the company’s profit margins.

Honda Motor — Shares of Honda moved 1.8%  higher after it joined forces with LG Energy Solution to build a new battery production plant for electric vehicles in the U.S. The companies, which plan to invest $4.4 billion, aim to begin mass production of advanced lithium-ion battery cells by the end of 2025. 

Pinduoduo — Pinduoduo surged 14.7% after topping estimates in the recent quarter on the top and bottom lines. The China-based e-commerce giant said a recovery in consumer sentiment helped results.

Netflix — Shares of the streaming giant rose 0.6% after a Bloomberg report that its ad tier could cost between $7 and $9 a month.

Bristol-Myers Squibb — Shares of Bristol-Myers Squibb slumped 6.2% after the company reported results from a midstage trial of its developing stroke treatment that failed to meet the main objective of the study.

Energy stocks — Energy stocks jumped in tandem with oil prices rose on news of a potential OPEC+ supply cut. Shares of Diamondback Energy, Marathon Oil, Occidental and Exxon Mobil rose from 2.3% to 4.0%.

Etsy — Etsy added 0.3% following news that it will require U.S. sellers on its platform to verify their bank accounts or provide their username and password to fintech platform Plaid.

— CNBC’s Jesse Pound, Michelle Fox and Carmen Reinicke contributed reporting.



Source by [author_name]

Our target is to take our local communities to the worldwide audience. Submit your story and we will help you to build your audience. Thank you Roots News Team

LEAVE A REPLY

Please enter your comment!
Please enter your name here

2 × three =