Check out the companies making headlines in midday trading: Nio – US-listed shares of the Chinese electric car maker rose 9.5% after Nio announced a 13.3 billion yuan capital injection for its Nio China business. The transaction is expected to be completed by the end of the year, and will dilute the shares of Nio Inc. in Nio China reached 88.3% from the current 92.1%. Stellantis — The stock fell more than 13%, hitting a 52-week low, following the automaker’s full-year profit warning . Stellantis pointed to a deteriorating “global industrial base” and increasing competition from China. Other automakers GM and Ford also fell in sympathy, down about 4% and more than 2%, respectively. Alibaba – Chinese e-commerce shares rose nearly 2% after the country’s central bank said it would ask banks to cut rates on existing home loans before Oct. meeting with CVS Health executives to improve the struggling business. Glenview Capital has established a large position in the company, people familiar with the matter told CNBC. Crypto Stocks – Stocks linked to the value of bitcoin have been pushed back by the cryptocurrency following a big rally last week. Coinbase slipped 5%. MicroStrategy fell 1% after paring earlier losses. Bitcoin is down 3% and is trading below $64,000. EchoStar — The satellite communications stock fell 12% after DirecTV on Monday agreed to buy EchoStar’s satellite television business. This includes Dish TV and is a resolution to decades of ongoing negotiations, which will no longer exist between the two distributors. Amerant Bancorp – Shares rose 4% after Piper Sandler upgraded the Florida-based bank to super from neutral. As catalysts, analyst Stephen Scouten cited an “attractive risk/reward” balance and “sufficient capital for rapid growth.” Moderna – Shares of the biotech company added more than 1% after Moderna announced that it has administered the first dose in its phase 3 trial of a norovirus vaccine. Universal Health Services – Shares fell nearly 3% after a judge awarded $300 million to women who accused a former doctor at Cumberland Hospital for Children and Adolescents of sexual abuse. Cumberland Hospital for Children and Adolescents is an “indirect subsidiary” of Universal Health Services, according to the 8-K filing. – CNBC’s Sean Conlon, Tanaya Macheel, Sarah Min, Jesse Pound and Pia Singh contributed reporting.
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