Stocks making the biggest moves midday: American Eagle Outfitters, Unilever, Nio and more
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Check out the companies making headlines in midday trading.
Marathon Oil, Diamondback Energy — Energy stocks rose along with oil prices after an agreement from European Union leaders to ban most crude imports from Russia stoked inflation fears. Shares of Marathon Oil jumped more than 4%, and shares of Diamondback Energy gained 1.9%.
Alibaba, JD, Baidu — A slew of Chinese stocks listed in the U.S. rallied after the country's Covid-19 lockdown measures eased. Alibaba jumped 2.9%, while JD advanced about 6%. Internet giant Baidu popped more than 4%. The lockdown in Shanghai was announced in March and had been an overhang for the Chinese stock market.
Unilever — The consumer products company saw its shares jump 9.4% after it named activist investor Nelson Peltz to its board. The CEO and founding partner of Trian Fund Management acquired a 1.5% stake in the company, and his new role will become effective July 20.
DexCom — Shares jumped more than 4% after DexCom denied a Bloomberg report citing unnamed sources that it is in talks to acquire medical device company Insulet. «It is generally our policy not to comment on rumors or speculation, however… we wish to confirm that Dexcom is not in active discussions regarding a merger transaction at this time,» read a Tuesday statement from the company. Meanwhile, shares of Insulet plunged more than 10%.
Yamana Gold — The miner's shares jumped more than 6% after Yamana Gold agreed to be acquired by Gold Fields in a $6.7 billion all-stock transaction.
Credit Suisse — The bank's shares dropped roughly 4% after Credit Suisse denied a Reuters report that it is deliberating ways to raise capital after its recent losses. The news report, citing two unnamed sources, said
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