An Nio ES6 electric vehicle is on display in an automotive experience area at Wanda Plaza on November 28, 2020 in Beijing, China.
VCG | Visual China Group | Getty Images
Check out the companies making headlines at noon on Monday:
Nio – The US-listed shares of the Shanghai-based electric vehicle company advanced more than 8% after the company announced plans for a new sedan. The move has prompted several Wall Street companies to raise their stock forecasts, with JPMorgan raising its price target to a $ 75 high.
Twitter – Shares on the social media platform fell 6% after Twitter decided to permanently suspect President Donald Trump’s account. Twitter said on Friday that it made the decision to remove the president “due to the risk of further incitement to violence” after the deadly riot at the United States Capitol.
Tesla – The electric vehicle company fell more than 4% as investors profited from rising stocks. The lower leg reaches a sequence of 11 consecutive wins for Tesla, the longest daily winning streak in the action. Separately, Bank of America increased its Tesla price target to $ 900, up from a previous forecast of $ 500.
Roku – Shares rose 3.7% after Citi raised its price target to $ 460 per share from $ 375. The company cited Roku’s acquisition of the extinct Quibi distribution rights as a reason for the increase . The new target price represents about a 15% increase in relation to the closing of the shares on Friday.
Sarepta Therapeutics – The biotech firm’s shares soared 7.6% after Sarepta revealed a cash position of around $ 1.9 billion as of December 31.
Lululemon – The sporting goods retailer rose 1.2% on Monday after announcing that it expects fourth quarter profits and sales to reach the upper limit of its previous projection, citing strong performance during the holiday.
Boeing – The stock came under pressure after a 737-500 jet crashed just after taking off from Jakarta’s main airport over the weekend. Around noon, Boeing traded down 2.4% and contributed most to the decline in the Dow Jones Industrial Average.
Baidu – Shares fell more than 5%, falling from an increase of more than 15% in the previous session, after the Chinese internet giant confirmed that it formed a strategic partnership with automaker Geely to create an autonomous electric vehicle unit. The shares took a double-digit jump on Friday after CNBC first broke the news, citing a person familiar with the matter.
CureVac – The shares of the German biotechnology company fell 6.8% after the company released pre-clinical results on the candidate vaccine Covid-19 that shows effectiveness in rhesus monkeys. The company’s CEO also told the German newspaper Handelsblatt that the company plans to complete its phase 3 test during the first quarter, according to FactSet.
—Pippa Stevens from CNBC, Maggie Fitzgerald, Jesse Pound and Yun Li contributed to this report.