Stocks making biggest moves midday: MRNA, HOOD, NIO

In midday trading, several companies made headlines:

1. Spotify’s stock rose 2% after being named a top pick by Wells Fargo, citing rising profit margins and strong product mix.

2. Robinhood’s fintech stock rose less than 3% after announcing users can trade contracts related to the upcoming presidential election.

3. Oil companies like Occidental Petroleum and Exxon slipped over 1% due to declining crude prices after Israel’s attack on Iranian military installations.

4. McDonald’s shares rose 1.5% as they announced the return of the Quarter Pounder burger after an E. coli outbreak.

5. Taiwan Semiconductor Manufacturing fell 3% after halting shipments to a China-based chip designer due to national security concerns.

6. ON Semiconductor rose 5% after beating analyst estimates for third-quarter earnings and revenue.

7. Nio, a Chinese electric vehicle maker, jumped 11% after an upgrade by Macquarie.

8. Delta Air Lines rose 4% after filing a lawsuit against CrowdStrike for an outage that caused flight cancellations.

9. Honeywell’s shares eased 1.1% following a downgrade by Wolfe Research.

10. Philips shares tumbled 17% after lowering its revenue outlook for 2024 due to deteriorating demand in China.

11. Nutanix rose 4% after an upgrade by Morgan Stanley.

12. Moderna shares jumped after initiating a phase 3 trial for a treatment for non-small cell lung cancer.

13. Aaon surged 8% after an upgrade to outperform at Baird due to potential benefits from artificial intelligence.