The afternoon session was led by moves in Oatly and Hasbro, which were up 2.3% and 1%, respectively. Shares of both companies have been on the rise lately on strong sales momentum, but these midday gains pushed them further into positive territory this week. Oatly increased 24% over the past month, while Hasbro gained 4% over that time frame, according to data from FactSet Research Systems Inc. Here are three other stocks making the biggest moves midday Friday
Oatly – Shares of the producer of beverages made from oats plunged 12.65% after the business revealed a larger-than-anticipated quarterly loss and lower-than-anticipated sales. Oatly attributed the decrease in its performance to China Covid regulations, production difficulties, and a higher U.S. currency.
Following news that it will be firing 10,000 employees as soon as this week, Amazon’s stock dropped 2.28%. According to The New York Times, the layoffs would be the biggest in the history of the firm and would mostly effect Amazon’s devices group, retail division, and human resources.
After Bank of America said that the toy firm was damaging one of its finest products, the “Magic: The Gathering” card game, Hasbro’s stock fell 9.86%. In an effort to meet demand, the company was introducing an excessive number of new card sets and increasing manufacturing, according to the corporation, but this was alienating merchants and customers.
Biogen – Following the failure of two final-phase tests for rival Roche’s Alzheimer’s medication, Biogen’s share price increased by 3.32%. Eli Lilly’s stock rose 1.8% in response to the news.
Shares of the chipmaker Advanced Micro Devices increased 1.6% after receiving upgrades from UBS and Baird, respectively, to buy from neutral and outperform from neutral.
Shares of the pharmaceutical business Moderna increased 4.57% when the company reported that its new booster produced five times as many antibodies against omicron BA.5 in patients with past Covid infections than the older vaccinations did. The stock is still down almost 28% this year despite rallies of 143% in 2021 and 434% in 2020.
Shares of BlackRock dropped 4.34% after the company decided to delay the debut of its exchange-traded fund for China bonds because of escalating hostilities between Washington and Beijing, according to the Financial Times.
Chinese company stocks JD.com and Baidu saw increases of 3.92% and 2.22%, respectively, as the Hang Seng index of China soared 1.7% higher due to good news about Covid and the nation’s debt-ridden real estate market.
Cloud stock prices fell on Monday as investors withdrew their profits. After last week’s spike, which saw the WisdomTree Cloud Computing ETF (WCLD) rise 15.92%, there has been a fall. Zscaler dropped 3.76%, Datadog dropped 5.14%, and Atlassian lost 5.2%.
Corteva and CF Industries CF Industries and Corteva, two fertiliser manufacturers, saw their shares rise 5.21% and 3.03%, respectively, as natural gas futures prices increased by more than 6% due to cold weather predictions and inflated heating demand.