Stocks making the biggest moves midday: Fox, Albemarle, First Republic and more
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Check out the companies making headlines in midday trading Monday.
Fox Corp. — The media stock was under pressure after Fox News announced that conservative prime-time host Tucker Carlson has left the network, days after the network settled Dominion Voting Systems' defamation lawsuit for almost $800 million. Fox's class A and B shares were each down about 4%.
Albemarle — Shares of the lithium mining company gained 5.3% at midday, recovering from last week's losses. The stock fell 10% on Friday amid reports that Chile was considering nationalizing its lithium mining industry. Albemarle CEO Kent Masters told CNBC's «Last Call» on Friday that Albemarle's existing mine and contracts in the country would not be affected.
First Republic — Shares of the San Francisco-based regional bank rallied ahead of its report postmarket Monday. The stock was up nearly 7.2% in midday trading but is still down more than 80% for the year.
First Solar – Shares of the solar company lost 4.3% after a Citi downgrade to sell cited margin risks and concerns that Inflation Reduction Act benefits are already reflected in the share price.
C3.ai – The artificial intelligence stock dropped about 11.4% following a downgrade by analysts at Wolfe Research. Wolfe said C3.ai could fall more than 30% due to risks to its future growth.
Tencent Music Entertainment Group — Shares dipped 3.2%, bringing the year-to-date loss to some 11%. To be sure, Mizuho initiated the China music company as a buy on Monday with a $10 price target, saying the Tencent-owned stock has upside potential thanks to its high monetization potential and market share.
Ford, General Motors — Shares of the car and light truck makers were higher midday Monday, with gains of
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