Here’s a look at the companies making headlines in midday trading: NIO – Shares of the U.S.-listed Chinese electric car maker rose 9.5% after NIO announced a 13.3 billion yuan cash infusion into its NIO China operations . These transactions are expected to be completed by the end of the year, and NIO’s shareholding in NIO China will be reduced to 88.3% from the current 92.1%. Stellantis — Shares fell more than 13% to hit a new 52-week low after the automaker issued a full-year profit warning. Strantis pointed to the deteriorating “global industrial backdrop” and increasing competition from China. Other automakers General Motors and Ford also fell in sympathy, falling nearly 4% and more than 2%, respectively. Alibaba – Chinese e-commerce stocks rose nearly 2% after China’s central bank said it would require banks to lower mortgage rates on existing home loans by Oct. 31. 3.3% met with CVS Health executives to boost the struggling business. People familiar with the matter told CNBC that Glenview Capital already has a sizable position in the company. Crypto Stocks – After last week’s sharp gains, stocks tied to the price of Bitcoin retreated along with the cryptocurrency. Coinbase fell 5%. MicroStrategy fell 1% after recouping earlier losses. Bitcoin fell 3%, trading below $64,000. EchoStar — Satellite communications stocks fell 12% after DirecTV agreed to acquire EchoStar’s satellite television business on Monday. That includes Dish TV, also a resolution to decades of on-and-off negotiations between the two distributors. Amerant Bancorp — Shares of the Florida-based bank rose 4% after Piper Sandler upgraded the bank to overweight from neutral. As catalysts, analyst Stephen Scouten cited an “attractive risk/reward” balance and “ample capital to grow rapidly.” Moderna — Shares of Moderna rose more than 1% after the biotech company announced it had administered the first dose in a Phase 3 trial of its norovirus vaccine. National Health Services – Shares fell about 3% after a jury awarded $300 million in fines to a woman who accused a former doctor at Cumberland Hospital for Children and Adolescents of sexual abuse. According to the 8-K filing, Cumberland Children’s and Adolescents Hospital is an “indirect subsidiary” of Universal Health Services. —CNBC’s Sean Conlon, Tanaya Macheel, Sarah Min, Jesse Pound and Pia Singh contributed reporting.
