Stocks making the biggest moves noon: Nio, Tesla, Roku, Lululemon & more

A Nio ES6 electrical automobile is on show at an automotive expertise space of Wanda Plaza on Nov. 28, 2020 in Beijing, China.

VCG | Visual China Group | Getty Images

Check out the corporations making headlines noon on Monday:

Nio — U.S.-listed shares of the Shanghai-based electrical automobile firm superior more than 8% after the firm introduced plans for a brand new sedan. The transfer prompted a number of Wall Street companies to boost their forecast on the inventory, with JPMorgan lifting its value goal to a Street excessive of $75.

Twitter — Shares of the social media platform sunk 6% after Twitter determined to completely suspect President Donald Trump’s account. Twitter mentioned late Friday it made the resolution to take away the president “due to the risk of further incitement of violence,” after the lethal riot at the U.S. Capitol.

Tesla — The electrical automobile firm slid more than 4% as traders took earnings in the high-flying inventory. The leg decrease snaps an 11-session successful streak for Tesla, the inventory’s longest each day successful streak on document. Separately, Bank of America raised its value goal on Tesla to $900, up from a previous forecast of $500.

Roku — Shares climbed 3.7% after Citi hiked its value goal on the inventory to $460 per share from $375. The agency cited Roku’s acquisition of the now-defunct Quibi’s distribution rights as a cause for the hike. The new value goal represents roughly 15% upside from the place shares closed Friday.

Sarepta Therapeutics — Shares of the biotechnology firm popped 7.6% after Sarepta disclosed a money place of about $1.9 billion by Dec. 31.

Lululemon — The athletic retailer rose 1.2% on Monday after asserting it expects earnings and gross sales for the fourth quarter to return in at the excessive finish of its prior steerage, citing robust efficiency throughout the holidays.

Boeing — Shares had been underneath strain after a 737-500 jet crashed shortly after taking off from Jakarta’s fundamental airport over the weekend. Around noon, Boeing traded decrease by 2.4% and contributed the most to the Dow Jones Industrial Average’s decline.

Baidu — The inventory dropped more than 5%, pulling again from a more than 15% rally in the earlier session, after the Chinese web large confirmed that it has shaped a strategic partnership with automaker Geely to create a standalone electrical automobile unit. The inventory jumped double digits on Friday after CNBC first reported the information, citing an individual aware of the matter.

CureVac — Shares of the German biotech agency dropped 6.8% after the firm launched pre-clinical outcomes about its main Covid-19 vaccine candidate exhibiting effectiveness in rhesus monkeys. The firm’s CEO additionally informed German newspaper Handelsblatt that the firm is aiming to finish its section Three trial throughout the first quarter, in line with FactSet.

—CNBC’s Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Yun Li contributed to this report.

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