Visits: 5
A monitor displays Alibaba Group signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Jan. 7, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines in midday trading:
Ambarella — Shares of Ambarella tanked 9.5% after one of its Chinese customers, video surveillance company Hikvision, was blacklisted by the U.S. over alleged human rights violations against Muslim minorities. Hikvision was among 28 Chinese companies on the so-called entity list prohibited from doing business with American companies without being granted a U.S. government license.
Alibaba, JD.com, Baidu – Shares of Chinese companies all fell following reports that the White House is considering limits on Chinese stock holdings in government pension funds. Bloomberg News reported the administration is also honing in on how to limit stock index providers from including Chinese stocks. Shares of Alibaba fell 3.8%, JD.com fell 3.9%, and Baidu dipped 1.9% lower.
Hawaiian Holdings — Shares of Hawaiian Holdings jumped 7% after the airlines raised its current-quarter revenue per available seat mile guidance. The airline now estimates a 0.5% increase after previously projecting a drop in the metric.
NIO — Shares of Nio jumped 10.7% after the Chinese electric car maker reported a surge in delivery numbers in the third quarter. Nio delivered 4,799 vehicles in the past quarter, up 35% from the second quarter. The number is at the upper end of Nio’s previous guidance.
Oracle — Shares of Oracle fell 1.4% following a downgrade from Jefferies to hold form buy. The firm said the computer software company has lagged its peers, like Microsoft. Jefferies also slashed its price target to $60 from $66.
J.B. Hunt — Shares of J.B. Hunt sank 2% following a downgrade from Susquehanna from to neutral from positive. The firm attributed the downgrade of the trucking and transportation company to consistent fall in volume, pricing power of rail partners and customer-facing pricing uncertainty.
Target — Shares of Target rose 0.5% after Raymond James initiated coverage of the retail giant as a strong buy. The firm said Target can achieve annual earnings growth in the high-single-digit to 10% range going forward. Target is doing a good job of adjusting to the new age of retail, said Raymond James.
—CNBC’s Yun Li contributed to this report.