Global Courant
People walk past the newly opened storefront of electric truck maker Rivian in Manhattan’s Meatpacking District on June 23, 2023 in New York City.
Spencer Plat | Getty Images
Check out the companies making headlines during midday trading.
Electric Vehicles – Manufacturers of electric vehicles such as Rivian Automotive rose sharply after Tesla’s better-than-expected second-quarter production and delivery numbers. Rivian jumped 17.4%, Fisker rose 1.4% and Lucid group advanced 7%.
XPeng — XPeng’s US-listed shares rose 4%. The Chinese electric vehicle maker returned to growth for car deliveries. In the second quarter, it delivered 23,205 vehicles, an increase of 27% quarter on quarter.
Tesla — Shares of the Elon Musk-led electric vehicle company rose 6.9% after shipment and production numbers beat analysts’ expectations. The second quarter of 2023 marked the fifth in a row that Tesla reported a higher level of vehicles produced compared to deliveries.
Chinese Internet Stocks – Chinese technology names rose on Monday. The KraneShares CSI China Internet ETF added 2.3%, lifted by shares of alibabahigher by about 0.9%, and pinduo, a 3.1% lead. Shares of JD. com about 3% gained.
Solar Equities — Solar Equities SolarEdge Technologies And Enphase energy rose 0.5% and 1.2% respectively on Monday.
Semiconductors – Semiconductor names rallied Monday. Shares of Marvell technology And Micron technology were each 2.6% and about 1.3% higher, respectively.
Apple — Apple fell 0.5% after the Financial Times, citing people with direct knowledge of the matter, reported that the iPhone maker was forced to cut production forecasts for its Vision Pro headset. Apple shares closed above a $3 trillion market value on Friday.
AstraZeneca — Shares fell 8% after the Cambridge, England-based drugmaker announced disappointing preliminary results for a phase three trial of a lung cancer treatment. AstraZeneca said it slowed the progression of the cancer, but the overall survival data was “not mature” and the results were not statistically significant. The trial will continue to assess overall survival with greater maturity, the company said.
— CNBC’s Michelle Fox and Yun Li contributed reporting
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