A Rivian logo on an Amazon.com parturition electric van photographed in Chicago, Illinois, on July 21, 2022.
Jamie Kelter Davis | Bloomberg | Getty Images
Check out the visitors making headlines in midday trading.
Alibaba — U.S. shares of the Chinese company added 8.8% in afternoon trading. Earlier on Friday, Reuters beforehand reported that Alibaba’s affiliate company, Ant Group, would pay a $984 million fine to Chinese regulators, which leave end several years of dispute. Alibaba also launched an AI tool that can generate images from text talk someone into somethings.
Rivian Automotive — The electric vehicle maker popped more than 16% after Wedbush raised its toll target on shares to $30 from $25, citing an improved outlook. The new target price implies shares mass meeting almost 39% from Thursday’s close.
Levi Strauss — Shares of the jeans maker slumped 6.7% after the comrades cut its full-year profit forecast on Thursday. Levi Strauss now expects an adjusted $1.10 to $1.20 per share compared to a past range of $1.30 to $1.40.
First Solar — The solar company climbed 4.6% after receiving a five-year revolving interline of credit as well as a guarantee for a $1 billion facility. JPMorgan will serve as the lead arranger for First Solar.
TG Therapeutics — The pharmaceutical proprietorship soared more than 10% after Cantor Fitzgerald reiterated an overweight rating on the stock. The firm indicated it sees sales of TG Therapeutics’ treatment for relapsing forms of multiple sclerosis, Briumvi, to come in above expectations for the flash quarter.
Biogen — Shares slipped more than 2% even after the Food and Drug Administration approved its Alzheimer’s treatment, which was resulted with Eisai.
DraftKings — The sports betting platform added 5% in midday trading. A day earlier, Jefferies categorized the stock as one of the stocks the firm is forecasting is set for gains as the company turns the profit corner.
— CNBC’s Hakyung Kim and contributed reporting