Midday Stock Movers: Nike, Twitter Climb, Alibaba Slides
2022.04.14 19:00
By Sam Boughedda
Investing.com — U.S. indices are mixed Thursday lunchtime, with the Dow Jones Industrial Average gaining and the S&P 500 and Nasdaq 100 down. Here are the midday movers on Thursday, April 14th.
Nike (NYSE:NKE) stock is trading over 4% higher midday after JPMorgan said the footwear and apparel giant expects an improvement in China. Analyst Matthew Boss stated Nike management sees China as “on pace” to deliver “sequential improvement.”
Twitter (NYSE:TWTR) has given up most of its early gains, now trading just 1% above Wednesday’s close following news that Tesla (NASDAQ:TSLA) CEO Elon Musk has made a bid for the social media giant.
Alibaba Group (NYSE:BABA) is down 3.5% after a Bloomberg report stated that regulators are investigating the relationship between Alibaba-backed Ant Group and state-owned Chinese companies.
Wells Fargo & Company (NYSE:WFC) beat earnings per share estimates but missed revenue expectations when it reported on its latest quarter before the open. As a result, its stock has declined by more than 3%.
Airgain Inc (NASDAQ:AIRG) shares rallied 14.71% on the back of Wednesday evening’s announcement that it has secured a multi-million dollar contract with a major US-based water utility company.
Rite Aid Corporation (NYSE:RAD) stock jumped to a high of $9.10 in the early part of Thursday’s session but now trades just 1.2% higher at $7.58 after it missed earnings per share forecasts but beat revenue expectations.
