Movers: Apple, AstraZeneca, Nio, Rivian, Tesla, Xpeng
- Scott Peters
- U.S.A. New York City
-
AstraZeneca declined after preliminary results for a phase three trial of a lung cancer treatment lagged expectations. Tesla reported record second quarter production and deliveries. Rivian Automotive reiterated annual production target.
The S&P 500 index traded nearly unchanged at 4,452.02 and the Nasdaq Composite edged higher 0.3% to 13,830.38..
The S&P 500 index advanced 5.2% in June and jumped 7% in the second quarter, the third quarterly gain in a row and jumped 15.9% in the first half.
The Nasdaq Composite increased 5.1% in June, advanced 11.2% in the second quarter and soared nearly 31.7% in the first half of 2023.
Tesla Inc jumped 8.5% to $283.86 after the maker of electric vehicles reported deliveries and production of electric vehicles in the second quarter.
Tesla shares are up 156% in the year sofar.
The company produced 479,700 vehicles and delivered 466,140 in the second quarter.
The company produced 258,500 vehicles and delivered 254,695 vehicles in the quarter a year ago.
Sales in the latest quarter were supported by as much as $10,000 incentives and $7,500 federal tax credit under the U.S. Inflation Reduction Act.
Rivian Automotive Inc jumped 14.8% to $19.14 after the maker of pickups and SUVs said it delivered 12,640 vehicles in the second quarter, an increase of 59% from the previous quarter.
The company reiterated its annual production target of 50,000.
Chinese electric vehicle makers trading in New York advanced after Tesla reported higher-than-expected quarterly production and deliveries.
Xpeng Inc jumped 7% and Nio Inc gained 5%.
Apple Inc edged down 0.6% to $192.94 after a report suggested that the company is looking to scale back production of Vision Pro headsets.
AstraZeneca Plc declined 5.6% to 10,638.0 pence in London and fell 8.9% to $65.19 in New York trading after the latest results from a broad study for a cancer drug lagged expectations.
The company announced disappointing preliminary results for a phase three trial of experimental lung cancer treatment drug.
Annual Returns
Company | Ticker | 2024 | 2023 | 2022 |
---|---|---|---|---|
Tesla Inc | TSLA | -6% | 48% | -84% |
XPeng Inc. | XPEV | -44% | 39% | -79% |
Apple Inc | AAPL | 16% | 43% | -24% |
Rivian Automotive Inc. | RIVN | -30% | -8% | -75% |
Astrazeneca PLC | AZN | 17% | -3% | 19% |
NIO Inc. | NIO | -51% | -27% | -61% |