Netflix is expanding its push into mobile games.
Sopa Pictures | Light flare | Getty Images
Check out the companies making the biggest moves Monday noon:
AMC – The cinema chain’s shares fell 38% as investors priced the company’s new class of preferred stock and Cineworld-rivaling news that it was considering bankruptcy. AMC’s new APE units were trading at around $7.50 per share, offsetting the steep losses for common stock.
Bed Bath & Beyond, GameStop – Other meme-stock favorites Bed Bath & Beyond and GameStop also dropped. Bed Bath & Beyond fell more than 9% as investors continued to react to news that investor Ryan Cohen had sold his shares and a report that some suppliers had halted deliveries to the retailer due to unpaid bells . GameStop followed, down about 4%.
Signify Health – Shares of home health services provided jumped 33% after the Wall Street Journal and Bloomberg News reported that Amazon was among the bidders for the company. CVS and UnitedHealth would also make offers. Amazon shares fell 3%.
Netflix – The streaming service fell more than 6% following a CFRA downgrade of pending sale stock. The firm also lowered its price target to $238 from $245, slightly below Friday’s close.
Ford – Ford shares fell nearly 5% after a jury ruled against the automaker in a case involving a fatal accident centered on the strength of the roof of one of its former pickup trucks. The company was ordered to pay $1.7 billion. Ford also announced Monday morning the cut of about 3,000 jobs in the United States and Canada.
Tesla – Tesla shares fell 2.5% after CEO Elon Musk announced the electric car maker would raise the price of its Full Self-Driving option by 25% in September. The cost will increase from $12,000 to $15,000.
Occidental Petroleum – The energy stock fell more than 2% in the market selloff, following a 10% rally in the previous session. Occidental jumped to double digits on Friday after it was announced that Warren Buffett’s Berkshire Hathaway had received regulatory approval to buy up to 50% of the oil giant.
DocuSign – Shares of the e-signature company fell 3.45% following a price target cut and RBC’s downgrade to sector performance from outperformance, as the company is looking for a new CEO.
VF Corp – Shares of Vans parent company VF Corp fell nearly 4% on Monday after Cowen downgraded the stock to market performance and lowered its price target. The company changed its rating, citing potential consumer weakness in the event of a recession in the United States or abroad, and increased inventories at the retailer.
Travel Stocks – Travel stocks struggled with the broader market. Shares of cruise lines such as Carnival, Royal Caribbean Group and Norwegian Cruise Line Holdings fell 3.7%, 3.67% and 30.5% respectively. United Airlines fell 3.44% and Delta Air Lines 1.9%. Wynn Resorts fell 4.2%.
Tech stocks – Shares of tech companies fell on fears of more aggressive rate hikes from the Federal Reserve. Apple, Amazon and Alphabet fell 1.6%, 2.95% and 2.07% respectively, while Salesforce fell more than 3%. Semiconductor stocks also took a hit, with Micron and Advanced Micro Devices down more than 2% each and Nvidia down more than 3%.
— CNBC’s Samantha Subin, Yun Li, Jesse Pound, Carmen Reinicke and Sarah Min contributed reporting.