Stock Market

Stocks making the biggest moves midday: Alcoa, Nio, Williams-Sonoma, Chefs’ Warehouse and more

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Rolled aluminum is fed into a machine on the auto treatment line at the Alcoa Inc. Davenport Works aluminum facility in Riverdale, Iowa.
Daniel Acker | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Alcoa — Shares of the aluminum stock slipped 5% after the company said executive vice president William Oplinger would succeed Roy Harvey as chief executive and president. Oplinger also joined Alcoa’s board of directors, the company added.

Nio — The Chinese electric vehicle company’s U.S.-traded shares dipped about 1%. The stock pared earlier losses, incurred after the firm denied media reports that the Nio is considering raising as much as $3 billion capital from investors. Nio said it currently has no reportable capital raising activity.

Li Auto — U.S.-traded shares of the Chinese EV company dropped 9% following news that Huawei made moves in the increasingly competitive space. The telecommunications giant teased two new electric cars — its first sedan and a high-end SUV — at its launch event Monday.  Huawei partners with an auto manufacturer to sell cars under the Aito brand.

GE Health Care Technologies – Shares of the medical technology gained 3%. On Friday, GE Health Care announced a cash dividend of 3 cents per share for the third quarter. The dividend will be payable on Nov. 15 to shareholders of record as of Oct. 20.

Williams-Sonoma — Shares of the home goods company jumped 9% after Green Equity Investors, an arm of investment firm Leonard Green and Partners, revealed a 5% stake in Williams-Sonoma. The securities filing disclosing the position indicated that this is a passive investment.

Dow Inc — Shares added about 2% after JPMorgan upgraded the petrochemicals company to overweight from neutral, citing potential upside from higher oil prices.

Opendoor Technologies — The real estate company slipped nearly 6% after after Citi cut its target price to $2.70 per share from $3.90. Citi said the reason for concern was the low volume of preexisting homes on the market.

JD.com — U.S.-listed shares of the Chinese e-commerce stock slid 2% as concerns over the state of country’s economy grew. A central bank official said on Sunday that the country has little room to further relax monetary policy and said the economy instead needs major reforms.

Sealed Air — The food packaging stock climbed 2.7% following an upgrade to Citi to buy from neutral. The firm said the company is at a discounted valuation and could see third-quarter earnings as a catalyst.

Chefs’ Warehouse — The specialty food distributor popped 1% after UBS initiated coverage of the stock at a buy. UBS said the company has an attractive business model, even as it faces some near-term challenges.

Hudson Technologies — The reseller of sustainable refrigerant products advanced 4% after Canaccord Genuity initiated coverage of the stock at a buy rating. The firm said the company is likely undervalued and should be helped as refrigerant reclamation gains popularity.

— CNBC’s Yun Li, Jesse Pound, Pia Singh, Brian Evans and Hakyung Kim contributed reporting

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