Energy Stocks Benefit from Rise in Oil Prices
Energy stocks on the S&P 500 saw an increase following the rise in oil prices, which was driven by expectations of a drop in Russian crude supply. Companies such as Halliburton, Devon Energy, Chevron, and Marathon Oil all saw their shares rise by more than 2% each.
Alphabet Stock Rises on NFL Sunday Ticket Partnership
Tech giant Alphabet saw a more than 1% rise in its stock after the National Football League announced that its Sunday Ticket subscription package would be available on YouTube, an Alphabet subsidiary, starting next season.
Biogen Stock Falls After Third Death in Alzheimer's Treatment Trial
Biogen, a biotech company, saw a slight decline in its stock after its Japanese partner, Eisai announced that a third person had died during a trial of their experimental Alzheimer's treatment. This news had been previously reported by Reuters.
Cruise Line Stocks Fall Amid Recession Fears
Shares of cruise line operators Carnival and Norwegian Cruise Line both saw declines, with Carnival down more than 4% and Norwegian Cruise Line down more than 2%. This can be attributed to consumer discretionary stocks, of which cruise lines are a part, being one of the worst-performing sectors on the S&P 500 due to fears of an impending recession.
Tesla Stock Falls After CEO Announces Pause on Share Sales
Tesla, an electric vehicle manufacturer, saw a 2% drop in its stock after CEO Elon Musk announced that he would not be selling any more Tesla stock for the next 18 to 24 months. In the past year, Musk has sold roughly $39 billion in Tesla shares.
3M Company Stock Declines After Judge Rules Against Subsidiary Liability
3M saw a 1.6% decline in its stock after a judge ruled that the company could not shift liability for injuries suffered by military members from allegedly defective earplugs to a subsidiary. The judge stated that 3M should receive the "harshest penalty" for its "bad faith" attempts to transfer liability, according to Reuters.
Nutanix Stock Falls After Hewlett Packard Halts Acquisition Talks
Shares of Nutanix, a cloud computing company, fell more than 5% after Dealreporter reported that Hewlett Packard Enterprise had stopped talks from acquiring Nutanix. Hewlett Packard confirmed in a statement to CNBC that "there are currently no discussions with Nutanix."
Mission Produce Stock Drops on Lower-Than-Expected Profit and Revenue
Mission Produce, an avocado producer, saw its stock drop more than 14% after the company released financial results for its most recent quarter. The results showed lower-than-expected profit and revenue, as the rise in volume was not enough to offset a decline in avocado prices.
