Stocks making the biggest moves midday: Marathon Oil, General Motors, Oatly and more

Stock Market

In this article

The GM logo is seen on a water tank of the General Motors assembly plant in Ramos Arizpe, in Coahuila state, Mexico February 11, 2021.
Daniel Becerril | Reuters

Check out the companies making headlines in midday trading.

Energy — Energy stocks dominated the top performing spots in the S&P 500 as U.S. crude oil prices topped $80 a barrel, the highest since 2014. APA Corp gained 4.9%. Pioneer and Diamondback added more than 3%. Hess rose about 4%. EOG leapt more than 3%. Marathon Oil gained over 2% and Devon Energy added 1.8%.

Charter Communications — The cable company’s stock fell more than 4% after Wells Fargo downgraded it to underweight from equal weight, due to concerns about slowing cable subscriber growth. Cable One also lost about 3% after Wells downgraded it to equal weight from overweight. Competitors Altice fell 1.8% and Comcast Corp fell 3.7%. Comcast owns NBCUniversal, the parent company of CNBC.

General Motors — Shares of the automaker jumped 3.5% after Credit Suisse reiterated its outperform rating on the stock, saying it has a “compelling case” for multiple expansion after the company’s investor day earlier this week. Shares of Ford also were also higher, by 1.8%.

Oatly — Shares of the oatmilk maker gained less than 1% after JPMorgan upgraded the stock to overweight from neutral. The Wall Street firm said it sees a “favorable risk/reward” for the shares after pulling back nearly 50% from its June peak.

Sirius XM Holdings — The satellite radio company saw shares fall 2.7% after JPMorgan downgraded the stock to neutral from overweight, saying it expects the slowdown in new auto sales to affect new subscriptions. It lowered its December 2022 price target to $7 from $8.

Moderna — The biotechnology and pharmaceutical stock fell more than 1% after Finland, Denmark and Sweden announced they would limit the use of the Moderna’s Covid-19 vaccine in young people. The countries made the decision citing concerns around rare cardiovascular side effects.

Citrix Systems — The enterprise software stock continued its descent after Citi downgraded it to neutral from buy, citing the departure of the company’s CEO, announced earlier in the week. It’s unlikely a financial bidder will buy the company and that it will struggle to deliver on its long term targets, analyst Tyler Radke said. Citrix slid 5.7%.

— CNBC’s Hannah Miao and Yun Li contributed reporting

Become a smarter investor with CNBC Pro
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today

Products You May Like

Articles You May Like

Home sales stick near recent lows in August, but prices continue to climb
Deals from Texas, Florida top slate; muni yields continue to rise
Fitch affirms revises Atlanta courthouse project bond outlook to positive
Granular Details Spell Success For Brooklyn’s Refinery At Domino
Another weak session for munis, but with smaller losses

Leave a Reply

Your email address will not be published. Required fields are marked *