Midday movers: Rivian Automotive, PayPal, Airbus and more
Investing.com -- Stocks are falling after stronger-than-expected data on housing stoked fresh fears about interest rates. Here are the market movers for June 20.
- Rivian Automotive Inc (NASDAQ: RIVN) shares are up 5% after the electric vehicle maker became the latest car company to adopt Tesla's technology standard for charging. Tesla Inc (NASDAQ: TSLA) shares were up 3.6%.
- PayPal Holdings Inc (NASDAQ: PYPL) shares rose 3.8% after the payments company said private equity firm KKR would buy up to €40 billion (€1 = $1.0915) of its buy now pay later loans originated in Europe.
- Airbus Group (EPA: AIR) (OTC: EADSY) shares rose 0.4% after the company announced an order of 500 planes for India carrier IndiGo, while rival Boeing Co (NYSE: BA) shares fell 3.3%. Boeing has an order for eight 787 Dreamliners from China Airlines.
- Alibaba Group Holdings Ltd ADR (NYSE: BABA) shares fell 4.7% after the Chinese e-commerce giant said Daniel Zhang would step down as CEO but remain on as head of its cloud intelligence group.
- Dice Therapeutics (NASDAQ: DICE) shares jumped 37% after Eli Lilly and Company (NYSE: LLY) said it was buying it for $2.4B as it builds its portfolio of treatments for immune diseases.