The Rivian logo on an Amazon electric delivery van is pictured on July 21, 2022 in Chicago, Illinois.
Jamie Celtic Davis | Jamie Celtic Davis Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
alibaba — U.S. shares of the Chinese company rose 8.8% in afternoon trading. early Friday, Reuters first reported Alibaba affiliate Ant Group will pay Chinese regulators a $984 million fine, ending a years-long dispute. Alibaba has also launched an artificial intelligence tool that can generate images based on text prompts.
rivian car — Shares of the electric car maker rose more than 16% after Wedbush raised its price target to $30 from $25, citing an improving outlook. The new price target implies an upside of nearly 39% for shares from Thursday’s close.
Levi Strauss — Shares fell 6.7% on Thursday after the jeans maker cut its full-year profit forecast. Levi Strauss now expects an adjusted price of $1.10 to $1.20 per share, compared with a previous range of $1.30 to $1.40.
first solar corp. — Shares of the solar company rose 4.6% after securing a five-year revolving credit facility and $1 billion in financing guarantees. JP Morgan will act as lead arranger for First Solar.
TG therapy — Shares of the drugmaker soared more than 10% after Cantor Fitzgerald reiterated an outperform rating on the stock. The company said it expects second-quarter sales of TG Therapeutics’ Briumvi, which treats relapsing forms of multiple sclerosis, to top expectations.
Biogen — Even if the Food and Drug Administration approves its Alzheimer’s drug (which is Eisai.
draft king — The sports betting platform was up 5 percent in midday trading. A day earlier, Jefferies included the stock among its forecasts that the stock would rise as the company turns around.
— CNBC’s Hakyung Kim and contributing reporting