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Check out the companies in the spotlight on the midday deal.
southwest — Shares fell 6% after the company canceled 70% of its scheduled flights and warned of major disruptions “for the next few days.” Airlines canceled thousands of U.S. flights last week amid heavy snow, ice, high winds and cold weather across the country.
Las Vegas Sands, Wynn Resorts — Casino stocks rose after China announced that it would end its quarantine on overseas travelers from Jan. 8. Shares of Las Vegas Sands and Wynn Resorts have rallied to the country given their operations in Macau. Very high exposure. Added 4.2% and 4.5% respectively.
China-based companies — U.S.-listed ADRs surged after the government announced easing of Covid restrictions. Alibaba When JD.com An increase of more than 4% each. Baidu added 4.4%, Pindudu increased by 1.4%.
Tesla — Shares of the electric car maker fell 11.4% in January after news that it would slow down production at its Shanghai factory. The factory closed at the end of December.
Nio — Stocks fell 8.3% after the electric car maker cut its fourth-quarter shipment outlook due to supply chain disruptions in China.
Peloton –The fitness company has announced it will offer refurbished bikes at discounts of up to $500 compared to new bikes.
B. Riley Financial — Shares of investment companies rose more than 1% after releasing fourth-quarter guidance. The company said it expects fourth-quarter operating adjusted EBITDA to be from $90 million to $100 million. This is down from the fourth quarter of 2021, but up from some previous quarters this year. B. Riley also said he expects to end the year with more than $2 billion in cash and investments.
herbalife — The multilevel marketing firm rose 2.4% after interim CEO and chairman Michael Johnson announced he would retain the role permanently. agreed with
Coherus Bioscience — Shares fell 11.8% on news that the company had not received an action letter from the Food and Drug Administration for its nasopharyngeal cancer drug. The company said the FDA delay was due to its inability to visit factories in China due to travel restrictions.
— CNBC’s Samantha Subin, Jesse Pound, Tanaya Macheel, and Sarah Min contributed to the report.
