Nucor Corp. steel bundles will be available for sale on Thursday, August 30, 2012 at Thompson Building Materials in Lomita, California, USA.
Patrick Fallon | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
American Airlines, United Airlines, Delta Airlines – Shares in American Airlines, the major airlines, rose over 1% on Monday after the White House announced it Relax travel restrictions for international travelers who are vaccinated against Covid-19. Delta and United stocks previously gained but fell nearly 0.2% each.
China Evergrande Group – Shares in the contested Chinese real estate giant fell 10% on the Hong Kong Stock Exchange. The company has made an effort to pay its suppliers, and warned investors that it could not meet its debts. Last week the company announced that its September home sales are likely to continue to decline sharply in several months of weakness.
Nukor, Freeport-McMoRan, ford, Caterpillar – Stocks linked to global growth fell on Monday. The steel stock Nucor lost 8.4%, the mining company Freeport-McMoRan lost 6.6%, the automaker Ford lost 6% and the construction equipment manufacturer Caterpillar lost 4.8%.
WHAT, Devonian energy – Energy stocks tumbled amid a decline in oil prices on worries about the global economy. The energy sector of the S&P 500 fell 3.3% and became the worst performing group of the 11 groups during Monday’s market sell-off. APA and Devon Energy both lost more than 6%. Occidental Petroleum 6% decreased and Hess slipped over 5%.
Goldman Sachs, Bank of America, JPMorgan Chase – Financials fell as 10-year US Treasury yields fell, with falling interest rates typically hurting banks’ profits. Goldman Sachs, Bank of America, and Citigroup all lost more than 4%. JPMorgan Chase and Morgan Stanley both fell more than 3%.
ARCHE innovation, Coin base, Tesla, Zooming, square – Cathie Wood’s flagship fund stocks fell more than 4% as innovation stocks were sold hard. The top holdings Coinbase and Teladoc both lost more than 5%. Unity Software lost over 5% and Tesla lost more than 3%. Square and Zoom Video were both down more than 3%.
Pfizer The drugmaker’s stock ticked 0.3% higher after the company announced its The Covid vaccine is safe and appears to have a robust immune response in children 5 to 11 years old. If the FDA spends as much time reviewing the data for this age group as it does for the 12-15 year olds, the footage could be available in time for Halloween.
AstraZeneca – Shares in the UK-based pharmaceutical company rose more than 4% in midday trading after it was announced that its Breast cancer drug Enhertu showed positive results in a phase three study.
Invesco – Invesco shares fell 9% on Monday. The stock rose on Friday following a report in the Wall Street Journal that the money manager said in talks about the merger with Federal roadthe asset management unit. The report, citing people familiar with the matter, stated that a deal is not imminent and may not come about at all.
– CNBC’s Maggie Fitzgerald, Yun Li and Jesse Pound contributed to the coverage
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