Midday Movers: Disney, Moderna, Vroom and More

2022.08.15 20:18

By Liz Moyer

Investing.com — U.S. stocks fell Monday on fears of economic weakness in China. Here are the midday movers for Aug. 15:

• Walt Disney Company (NYSE:DIS) shares jumped 2% after news hedge fund Third Point had taken a stake in it, as investor Dan Loeb pushes it to spinoff ESPN and accelerate its absorption of Hulu. Loeb has previously owned Disney.
• Moderna Inc (NASDAQ:MRNA)rose 2% after the U.K. approved its updated Covid-19 vaccine, which will protect against the Omicron variant. The U.K. is the first to approve the updated shot.
• Vroom (NASDAQ:VRM)shares fell nearly 8% after JPMorgan (NYSE:JPM) analysts cut it to sell from neutral. Used car retailers are struggling with macroeconomic factors.
• Li Auto Inc (NASDAQ:LI)shares rose 1.8% after the Chinese electric vehicle maker reported better than expected results for the second quarter, despite giving deliveries guidance that was below expectations. It expects deliveries of 27,000 to 29,000, which is less than 39,000 expected.
• Oil stocks were pressured by sinking crude oil prices on Monday on concerns about China’s economic health. Exxon Mobil Corp (NYSE:XOM) shares fell 1.5%, as did shares of Chevron Corp (NYSE:CVX).

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