The GM logo is seen on the water tanks of the General Motors Assembly Plant at Ramos Arispe in Coahuila, Mexico on February 11, 2021.
Daniel Betheril | Reuters
Check out the companies that make headlines for trading in the afternoon.
Energy – Energy stocks dominated the top performing spot of the S&P 500 as US crude oil prices rose above $80 a barrel, the highest since 2014. APACorp rose 4.9%. Pioneer and Diamondback added more than 3%. Hayes rose about 4%. EOG has jumped over 3%. Marathon Oil gained more than 2% and Devon Energy gained 1.8%.
Charter Communications – Share prices of cable companies fell more than 4% after Wells Fargo underperformed the stock prices of cable companies by the same weight, slowing cable subscriber growth. The CableOne also lost about 3% after the Wells was downgraded from overweight to the same weight. Competitors Altice was down 1.8% and Comcast Corp was down 3.7%. Comcast owns CNBC’s parent company, NBC Universal.
GENERAL MOTORS – Credit Suisse shares rose 3.5% earlier this week after Investor Day, saying there were several “surprising cases” of expansion, after an outperformed valuation of equities by Credit Suisse. Ford’s stock also rose 1.8%.
Oat Milk – After JPMorgan upgraded its stake from neutral to overweight, the oat milk maker’s stake rose to less than 1%. The Wall Street company said it views the shares as “favourable risk/compensation” after cutting nearly 50% from its June peak.
Sirius XM Holdings – Shares fell 2.7% after the satellite radio company confirmed that JPMorgan’s shares were downgraded from overweight to neutral. We have reduced our December 2022 price target from $8 to $7.
Moderna – Finland, Denmark and Sweden announced they would limit the use of Moderna’s COVID-19 vaccine among young people, with biotechnology and drug inventories dropping by more than 1%. Countries have made the decisions because of concerns about rare cardiovascular side effects.
Citrix Systems — Enterprise software shares continued to fall after Citi turned neutral from a buyout due to the company’s CEO’s resignation announcement earlier this week. According to analyst Tyler Radke, financial bidders are unlikely to buy the company and will struggle to reach their long-term goals. Citrix fell 5.7%.
— CNBC’s Hannah Miao and Yun Lee contributed to the report
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Marathon, GM, Auteri, etc.
Source Link Marathon, GM, Auteri, etc.