Nio, Tesla, Roku, Lululemon & more
A Nio ES6 electric vehicle will be on display at an automotive experience area in Wanda Plaza in Beijing, China on November 28, 2020.
VCG | Visual China Group | Getty Images
Check out the companies making headlines on Monday lunchtime:
Nio – US-listed stocks of the Shanghai-based electric vehicle maker rose more than 8% after the company announced plans for a new sedan. The move prompted several Wall Street firms to raise their forecast for the stock, with JPMorgan raising its price target to a street high of $ 75.
Twitter – Shares in the social media platform fell 6% after Twitter decided to put President Donald Trump’s account under permanent suspicion. Twitter said late Friday it had made a decision to remove the president “because of the risk of further incitement to violence” following the deadly riot in the US Capitol.
Tesla – The electric vehicle company was down more than 4% as investors took profits in the soaring stock. The lower leg triggers an 11-session winning streak for Tesla, the stock’s longest daily winning streak in history. Regardless, Bank of America raised its price target for Tesla from a previous forecast of $ 500 to $ 900.
Roku shares rose 3.7% after Citi raised its target price on the stock from $ 375 to $ 460 per share. The reason for the migration was given by Rokus’ acquisition of the now dissolved distribution rights from Quibi. The new price target corresponds to an upward trend of around 15% compared to the closing price of the share on Friday.
Sarepta Therapeutics – The biotech company’s shares fell 7.6% after Sarepta reported approximately $ 1.9 billion in liquidity as of Dec. 31.
Lululemon – The athletic retailer rose 1.2% on Monday after announcing fourth quarter earnings and sales will be at the high end of its previous forecast, citing strong performance over the vacation.
Boeing stocks were under pressure after a 737-500 jet crashed shortly after taking off from Jakarta’s main airport over the weekend. Around noon, Boeing was down 2.4%, making the biggest contribution to the decline in the Dow Jones Industrial Average.
Baidu – The stock fell more than 5% and retreated from more than 15% rally in the previous session after the Chinese internet giant confirmed it had entered into a strategic partnership with automaker Geely to create a standalone entity for electric vehicles. The stock rose double digits on Friday after CNBC first reported the news, citing someone familiar with the matter.
CureVac – The German biotech company’s shares fell 6.8% after the company released preclinical results on its lead Covid-19 vaccine candidate showing efficacy in rhesus monkeys. The company’s CEO told Handelsblatt in Germany that, according to FactSet, the company intends to complete the phase 3 study in the first quarter.
– CNBC’s Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Yun Li contributed to this report.