A Tesla service and sales center is shown in Vista, California, June 3, 2022.
Mike Blake | Reuters
Try the businesses making headlines in midday trading Friday.
Energy — Energy stocks outperformed on the S&P 500 following an increase in oil prices, which jumped Friday on expectations of a drop in Russian crude supply. Shares of Halliburton, Devon Energy, Chevron and Marathon Oil rose by greater than 2% each.
Alphabet — The tech stock gained greater than 1% after The National Football League said Thursday that its “Sunday Ticket” subscription package will go to subsidiary YouTube starting next season.
Biogen — The biotech stock declined fell barely after Biogen’s Japanese partner, Eisai, said a 3rd person has died during a trial of their experimental Alzheimer’s treatment, confirming Reuters reports.
Carnival, Norwegian Cruise Line — Cruise line operators declined as fears of a recession weighed on consumer discretionary stocks, which was one in all three worst-performing sectors within the S&P 500. Shares of Carnival were down greater than 4%, while Norwegian Cruise Line was down greater than 2%.
Tesla — Shares of the electrical vehicle maker declined 2% after CEO Elon Musk said that he would hold off on selling any more Tesla stock for the subsequent 18 to 24 months. Over the past 12 months, Musk sold roughly $39 billion in shares.
3M Company — 3M shed 1.6% after a U.S. judge barred the corporate from shifting liability to a subsidiary for injuries suffered by military members from allegedly defective earplugs. The judge said 3M deserved the “harshest penalty” for its “bad faith” attempts to transfer liability, Reuters reported.
Nutanix — Shares of Nutanix fell greater than 5% after Dealreporter reported that Hewlett Packard Enterprise has halted talks to accumulate the cloud computing company. Hewlett Packard confirmed in a press release to CNBC that “there are currently no discussions with Nutanix.”
Mission Produce — Shares of the avocado producer dropped greater than 14% after the corporate reported financial results for its most up-to-date quarter. It posted lower-than-expected profit and revenue because the rise in volume was not enough to offset a plunge in the costs of avocados.
— CNBC’s Tanaya Macheel and Michelle Fox contributed reporting.