Movers: Apple, AstraZeneca, Nio, Rivian, Tesla, Xpeng

Scott Peters
03 Jul, 2023
New York City

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.