Check out the companies that make headlines for noon trading.
Intellia Therapeutics – Intellia’s stake surged 56% after the company, along with partner Regeneron, announced positive results from a phase I trial of gene-editing therapy. This treatment is the first gene editing technology in which CRISPR has been systemically provided to the human body as a drug. Other companies involved in CRISPR also surged 7.5% in CRISPR Therapeutics and 8.8% in Editas Medicine.
Boeing — Shares fell 3.5% after the Federal Aviation Administration said in a letter to aircraft manufacturers that the 777X’s long-range aircraft are likely to be unapproved for flight from mid to late 2023 at the earliest. The FAA letter to Boeing, obtained by CNBC, stated that there were many technical issues that needed to be resolved.
Cruise Inventory — Cruises may return, but cruise line inventory declines after two teenage guests test positive for Covid-19 on one of the Royal Caribbean ships. I am. Royal Caribbean fell 6.2% on Monday, while Carnival fell 6.6% and Norwegian Cruise fell 5.3%.
Oil Stocks — Oil names fell as West Texas Intermediate Crude Oil futures fell on Monday after rising more than 10% in June. Occidental Petroleum decreased by 5.5%, Marathon Oil decreased by 4.6%, Devon Energy decreased by 3.9%, and Chevron decreased by 2.9%.
Tesla — Shares rose 2.5% after Wedbush said the company was facing a “moment of truth” following a recall of autopilot software in China. The company maintained an outperform rating for electric vehicle manufacturers, despite negative headlines.
Nvidia — Semiconductor makers have surged 4.9% in shares after receiving support for a planned $ 40 billion acquisition of UK-based chip designer Arm, according to a report by The Sunday Times in London. Public indications of support are from Broadcom, Marvell, and MediaTek, all of which are Arm customers.
NRG Energy — Utility stocks surged 5% after Goldman Sachs added NRG Energy to the conviction list. The company said in a note to its clients that NRG’s strong cash flow profile would allow the company to buy back nearly a quarter of its shares.
Perion Network — Shares surged 18% after an Israeli-based advertising technology company reported better than expected second-quarter preliminary results. According to FactSet, the company reported interim revenue of $ 105 million in the second quarter, compared to analysts’ forecast of $ 95.9 million.
Bed Bath & Beyond — Retailers’ stocks traded more than 8.7% higher after CFRA Research upgraded from hold to birating. The CFRA has maintained its price target of $ 40, which means an almost 40% increase.
— CNBC’s Jesse Pound, Tom Franck and Tanaya Macchel contributed to the report
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