Delta Air Lines Bombardier Boeing 757-200 aircraft as seen arriving, on final approach for landing in New York JFK John F. Kennedy International Airport. The B757 narrow body airplane was flying previously for TWA Trans World Airlines and AA American Airlines. The registration the Boing 757 plane is N713TW and is powered by 2x PW jet engines. Delta Airlines is the second-largest in the world, member of SkyTeam aviation alliance with headquarters in Atlanta, Georgia. NY, USA on 2nd February 2020
Check out the companies making headlines in midday trading.
Intellia Therapeutics – Intellia shares surged 50% after the company announced positive results from a phase one study, along with partner Regeneron, of a gene-editing treatment. The treatment is the first time gene-editing technique CRISPR has been delivered systemically as a medicine to the human body. Other companies involved with CRISPR also saw their shares rally, with CRISPR Therapeutics' stock soaring 6.4% and Editas Medicine's stock jumping 5%.
Boeing — Shares fell 3.4% after the Federal Aviation Administration said in a letter to the aircraft maker that its 777X long-range aircraft likely won't be approved to fly until mid- to late-2023 at the earliest. The FAA's letter to Boeing, which was obtained by CNBC, said there were numerous technical issues that needed to be resolved.
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Cruise stocks — Cruises may be back, but cruise line stocks are falling after two teenage guests on one of Royal Caribbean's ships tested positive for Covid-19. Royal Caribbean traded 6.4% lower Monday, while Carnival fell 7% and Norwegian Cruise dropped 6%.
Oil stocks — Oil names fell as West Texas Intermediate crude oil futures dipped Monday after gaining more than 10% in June. Occidental Petroleum erased 5%, Marathon Oil dropped 4.8%, Devon Energy shed 4.5% and Chevron fell 3% lower.
Tesla — Shares gained 2.5% after Wedbush said the company faces a "moment of truth" following an autopilot software recall in China. The firm maintained its outperform rating on the electric vehicle maker despite the negative headlines.
Money Report
Nvidia — The semiconductor maker saw its equity jump 5% after it received support for its planned $40 billion takeover of U.K.-based chip designer Arm, according to a report in the Sunday Times of London. The public display of support comes from Broadcom, Marvell and MediaTek, all of which are customers of Arm.
NRG Energy — The utility stock jumped more than 6% after Goldman Sachs added NRG Energy to its conviction list. The firm said in a note to clients that NRG's strong cash flow profile could enable the company to buy back nearly a quarter of its shares.
Perion Network — Shares jumped 17% after the Israel-based ad-tech company reported better-than-expected preliminary second-quarter results. The company reported preliminary second-quarter revenue of $105 million, compared with analysts' projection of $95.9 million, according to FactSet.
Bed Bath & Beyond — The retailer's stock traded more than 5.9% higher after CFRA Research upgraded it to a buy rating from hold. CFRA said it's maintaining a $40 price target, implying almost 40% upside.
— CNBC's Jesse Pound, Tom Franck and Tanaya Macheel contributed reporting
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