An electric car from the Nio ES6 is on display in an auto experience area of Wanda Plaza on November 28, 2020 in Beijing, China.
VCG | Visual China Group | Getty Images
Check out the companies making headlines Monday afternoon:
Nio – US-listed shares of the Shanghai-based electric vehicle company rose more than 8% after the company announced plans for a new sedan. The move prompted several Wall Street companies to raise their forecasts for the stock, with JPMorgan raising its price target to a Street high of $ 75.
Twitter – Shares of the social media platform fell 6% after Twitter decided to permanently suspect President Donald Trump’s account. Twitter said Friday night that it decided to remove the president “because of the risk of further incitement to violence,” following the deadly riot in the Capitol.
Tesla – The electric vehicle business was down more than 4% as investors took profits in the high-flying stocks. The bottom leg achieves an 11-session winning streak for Tesla, the longest daily winning streak ever. Separately, Bank of America raised its target price for Tesla to $ 900, up from a previous $ 500 forecast.
Roku – Shares were up 3.7% after Citi raised its stock price target from $ 375 to $ 460 per share. The company cited Roku’s acquisition of the now-defunct Quibi’s distribution rights as the reason for the increase. The new price target represents an increase of about 15% from where the stock closed Friday.
Sarepta Therapeutics – Shares of the biotechnology company fell 7.6% after Sarepta revealed a cash position of approximately $ 1.9 billion through December 31.
Lululemon – The athletic retailer rose 1.2% on Monday after announcing that fourth-quarter revenues and sales will hit the highs of its previous expectations, citing strong performance over the holiday season.
Boeing – Stocks were under pressure after a 737-500 fighter jet crashed shortly after takeoff from Jakarta ‘s main airport over the weekend. Around noon, Boeing was down 2.4% and contributed most to the decline of the Dow Jones Industrial Average.
Baidu – The stock fell more than 5% and pulled back from a rise of more than 15% in the previous session after the Chinese internet giant confirmed it has entered into a strategic partnership with carmaker Geely to create a standalone electric unit create vehicles. The stock jumped double digits on Friday after CNBC first reported the news, citing a person familiar with the matter.
CureVac – Shares of the German biotech company fell 6.8% after the company announced preclinical results on its lead Covid-19 vaccine candidate showing efficacy in rhesus monkeys. According to FactSet, the company’s CEO also told German newspaper Handelsblatt that the company aims to complete its phase 3 trial in the first quarter.
—CNBC’s Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Yun Li contributed to this report.