Finance News

Shares That Make The Largest Strikes At Noon: Fb, Ford, Common Motors, and Extra

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Check out the companies that are making the headlines in midday trading.

Facebook – Facebook shares fell 4.9% after a corporate whistleblower revealed her identity and accused the social media giant of “betraying democracy”. The whistleblower leaked documents to the Wall Street Journal and Congress revealing that Facebook executives were aware of the negative impact its platforms had on young people. Twitter lost 5.8% as concerns about more regulation in space surfaced.

Ford Motor – Ford stock rose 1.3% after the automaker's US vehicle sales showed signs of improvement in the third quarter. Sales improved from losses of more than 30% in July and August to 17.7% in September. Ford was still seeing a 27.4% year-over-year decline in sales, but the decline was less than forecast.

General Motors – General Motors' shares rose roughly 1.6% after activist firm Engine No. 1 announced an investment in the automaker. The hedge fund said it supports GM's advances in electric vehicles. Engine # 1 gained prominence earlier this year through the successful placement of three climate-conscious independent directors on Exxon Mobil's board of directors.

Tesla – The electric car maker's shares rose 0.8% despite the tech-driven sell-off in the broader market. The rally came after Tesla shipped 241,300 vehicles in the third quarter, beating analysts' expectations. The stock is up about 10% this year after a 2020 blockbuster.

Moderna, Novavax, Merck – The shares of the two Covid-19 vaccine manufacturers fell for a second day of trading after Merck's new Covid antiviral pill showed positive results in a clinical trial. Moderna lost almost 4.5% while Novavax lost 1.8%. Merck gained 2.1%.

Southwest Airlines – Airlines' stocks defied the broader market downtrend, rising 1.3% after Barclays moved Barclays to an overweight position. Analyst Brandon Oglenski also rated the North American airlines sector from neutral to positive, despite uncertainty about the return of business travel.

Devon Energy, Marathon Oil, Occidental Petroleum – Energy stocks rose as oil prices rose as OPEC + agreed to stick to a plan to incrementally increase production. Devon Energy was up 5.3%, Marathon Oil was up 4.1% and Occidental Petroleum was up 2.1%.

Dupont de Nemours – The commodities stock rose 1.5% after JPMorgan DuPont moved from neutral to overweight. The investment firm said DuPont should beat earnings expectations in 2022 and 2023.

Union Pacific – Rail stocks rose 1.9% after Barclays upgraded Union Pacific from equal weight to overweight. The investment firm said in a note that the railroad industry should rebound in 2022 as supply chain issues are worked out, increasing U.S. shipping demand.

– CNBC's Maggie Fitzgerald, Yun Li and Jesse Pound contributed to the coverage

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