Business

Dell, Twitter, Moderna and more

Twitter CEO and co-founder Jack Dorsey gestures as he interacts with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.

Prakash Singh | AFP | beautiful pictures

Check out the companies that make headlines in midday trading.

Marathon Oil – Shares of the mining and exploration company rose about 7% amid rising oil prices. APA and Random each rose more than 6% and every component in the energy sector was trading in the green around noon on Wall Street. West Texas Intermediate crude oil futures, the US oil benchmark, broke above $70 on Monday.

Virgin galaxy – Virgin Galactic drops 1.3% after company says it will delay first commercial space research mission, because a third-party supplier warned of a potential manufacturing defect in a component used in a flight control system. The flight is expected in late September or early October.

Airbnb, Twitter – Airbnb and Twitter fell 2.8% and 3.2%, respectively, after Goldman Sachs start insurance of both stocks with sell ratings. Goldman says that Twitter will struggle to hit its revenue target while Airbnb shares remain at risk due to uncertainty surrounding the recovery of the travel industry.

Tencent Music Entertainment – Tencent Music down 3% after Loop downgrade stock from buy to hold. The company said it expects a “slow road to sentiment recovery for the sector,” that it sees more favorable regulatory conditions for online media properties and that it will be positioned in online retail properties.

NS Dell shares jumped 3.7% after Goldman Sachs added the computer maker to its trusted buy list. The company’s $137 price target for the stock implies a 44% gain from Dell’s Friday closing price. “We believe strong cash flow generation and a clear roadmap for debt settlement continue to be controversial over multiples on Standalone Dell closer to its counterparts,” Goldman said.

Vaccine manufacturers – Pfizer and its partner BioNTech saw shares fall more than 2% and 5.5%, respectively, although a Reuters report on Friday said its Covid-19 vaccine could be authorized for use in children aged 5 to 5. 11 years old right after October. Meanwhile, Moderna Stocks drop more than 4% after reports that Covid intensifies “inappropriate” at this time, according to the data of US and international scientists concluded.

Carlyle Group Shares of the private equity firm rose 1.7 percent after it said it was considering a $6 billion sale or initial public offering to packaging company Novolex, according to Bloomberg. The private equity firm purchased Novolex for an undisclosed amount in November 2016.

– CNBC’s Jesse Pound, Pippa Stevens and Hannah Miao contributed reporting

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