Rolled aluminum is fed into a machine on the automotive processing line at Alcoa Inc.’s Davenport Works aluminum plant in Riverdale, Iowa.
Daniel Acker | Bloomberg | Getty Images
See the companies making headlines at midday.
Alcoa — Aluminum shares fell 6.1% after the company announced that Executive Vice Chairman William Oplinger would succeed Roy Harvey as CEO and president. Oplinger also joined Alcoa’s board of directors, the company added.
Nio — U.S.-traded shares of the Chinese electric vehicle company fell about 2.3%. The stock pared earlier losses, suffered after the company denied media reports that Nio was considering raising up to $3 billion in capital from investors. Nio said it currently has no capital raising activities to report.
Li Auto — The Chinese electric vehicle company’s U.S.-traded shares fell 10% following news that Huawei had made moves in an increasingly competitive space. The telecommunications giant introduced two new electric cars – its first sedan and a premium SUV – at its launch on Monday. Huawei partners with automaker to sell cars under the Aito brand.
GE Healthcare Technologies — Medical technology stocks gained 3.3%. On Friday, GE HealthCare announced a cash dividend of 3 cents per share for the third quarter. The dividend will be payable on November 15 to shareholders of record on October 20.
Williams-Sonoma — Shares of the home goods company jumped 11.6% after Green Equity Investors, an arm of investment firm Leonard Green and Partners, revealed a 5% stake in Williams-Sonoma. The securities filing disclosing the position indicated that it was a passive investment.
Dow Inc. — Shares rose about 1.7% after JPMorgan upgraded the petrochemical company’s overweight from neutral, citing upside potential from rising oil prices.
Open door technologies — The real estate company fell nearly 5.5% after Citi lowered its price target from $3.90 to $2.70 per share. Citi said the reason for its concern was the low volume of pre-existing homes on the market.
JD.com — U.S.-listed Chinese e-commerce stocks fell 2.1% on growing concerns about the state of the country’s economy. A central bank official said on Sunday that the country had little room to further ease monetary policy and said the economy instead needed major reforms.
Air sealed — Food packaging stock climbed 3.6% following an upgrade by Citi to buy from neutral. The company said the company’s valuation was discounted and the third-quarter results could serve as a catalyst.
Chefs Warehouse — The specialty food retailer jumped 1.6% after UBS initiated buy coverage of the stock. UBS said the company has an attractive business model, although it faces near-term challenges.
Hudson Technologies — The durable refrigeration retailer rose 5.8% after Canaccord Genuity initiated buy coverage on the stock. The company said the business is likely undervalued and should be helped as refrigerant recovery gains popularity.
— CNBC’s Yun Li, Jesse Pound, Pia Singh, Brian Evans and Hakyung Kim contributed reporting.