Stocks making the biggest moves midday: Intel, Nio, FedEx, Manchester United and more
Check out the companies making headlines in midday trading. Intel — The semiconductor stock added 5.2% after Israel’s government announced a $3.2 billion grant. The grant will be for Intel to build a $25 billion chip plant in southern Israel, which will mark the company’s largest investment ever in the Middle Eastern country. Other names in the sector also rose on Tuesday, with the VanEck Semiconductor ETF (SMH) up more than 1%. Gracell Biotechnologies — Shares soared about 60% after AstraZeneca announced it will buy the Chinese cell therapy company for as much as $1.2 billion. Meanwhile, AstraZeneca traded near flat. RayzeBio — Shares skyrocketed more than 100% following news that the radiopharmaceutical company would be bought by Bristol Myers Squibb . On the other hand, Bristol Myers shares slipped 1.6%. Manchester United — Shares of the English soccer club climbed more than 3.4% after British billionaire Jim Ratcliffe finalized a deal to buy a quarter of the club , ending a year of uncertainty over its ownership. Ratcliffe will pay $33 per share. Shares closed at $19.84 on Friday. Nio — The Chinese electric vehicle maker jumped about 10.8% on the back of its flagship sedan announcement during Nio’s annual customer event over the weekend. Other electric vehicle stocks rose in the session, with Rivian and Tesla each adding more than 1%. FedEx — Shares rose 1.6% after the parcel delivery service initiated an accelerated share repurchase agreement with Mizuho. Through the deal, the company will buy back $1 billion worth of its stock. — CNBC’s Yun Li contributed reporting. This post has been syndicated from a third-party source. View the original article here.
