Midday Movers: Oil Companies, Uber, Rivian and More

2022.07.07 00:21

By Liz Moyer

Investing.com — U.S. stocks wobbled on Wednesday as investors awaited the minutes from the Federal Reserve’s most recent policy meeting. Here are the midday movers for July 6:

• Oil company shares tumbled after crude oil sold off sharply. Chevron Corp (NYSE:CVX) fell 2%, and Marathon Oil Corporation (NYSE:MRO) fell more than 3%. Halliburton Company (NYSE:HAL) fell 3%.
• Amazon’s (NASDAQ:AMZN) deal to offer meal delivery service Grubhub for free to Prime customers for a year is weighing on shares of rival food delivery companies, including Uber Technologies Inc (NYSE:UBER), down 3.5% and DoorDash Inc (NYSE:DASH), down 7.6%.
• Rivian Automotive Inc (NASDAQ:RIVN) shares jumped 12% after the electric vehicle maker affirmed it will make 25,000 vehicles this year.
• Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) fell 9% even after the cruise operator said it would lift its pre-boarding Covid-19 testing requirement for passengers, subject to local rules.
• Rocket Companies Inc (NYSE:RKT) stock rose 5% after Wells Fargo upgraded it to overweight. Though the housing market has cooled off, Rocket has the ability to capture market share from competitors, the analysts said.

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