These Companies Stocks Are Making Big Moves This Week
January 4, 2023The final trading week of 2022 was also significant, like the rest of 2022. Some big stocks made rapid moves. Below is the list of some big companies that have made headlines as 2023 is around the corner. The overall energy sector was rising in terms of its stock price.
- Energy Sector
The stock price of big energy companies was on the up in the market. The energy stocks have outperformed other stocks in S&P 500 by the end of Friday, 2022.
The reason that energy stocks have risen is an increase in oil prices. Moreover, the supply of Russian crude oil has also seen a significant decline.
As a result of these outcomes, the share price of some of the biggest companies like Halliburton, Devon Energy, Chevron, and Marathon Oil the up by 2%.
- The Share Price of Alphabet Also Increased
Alphabet is a tech giant; at the end of the press time on December 23rd, 2022, the stock price of Alphabet was on the rise. Its stock price increased by 1%.
It is important to mention that Alphabet is the strategic partner of the National Football League (NFL).
The price of the stock rose after NFL announced that its ticket subscription for the Sunday games would be available on Alphabet’s YouTube channel.
- Biogen’s Stock Experienced a Slump in Price
Biogen is a biotech giant. Regardless of its market size, the price of the company’s share was down.
The slump in the stock price came after its Japanese subsidiary said that an individual had died during the testing phase of its new vaccine.
The Japanese biotech firm ‘Eisai’ is a key partner of Biogen. Eisai was working on the development of a vaccine to treat Alzheimer’s. During drug testing, a person has lost his life. Reuters also confirmed this news.
- Carnival’s Stock Price
Carnival is an automobile giant. The price of Carnival stock also declined on Friday. The reason behind this decline was the rumors that the market might experience another other economic recession.
Macroeconomic indicators are not favorable for traders; as a result of these recession rumors, cryptocurrencies, and stocks both have faced a massive decline in prices.
It is also important for investors to know that the Automobile sector was the third worst-performing sector on the S&P 500 index.
The share of Carnival slumped by 4%. Apart from Carnival, the share price of the Norwegian Cruise Line also declined by 2%.
- Tesla Was Also Among the Worst Performing Companies List
The share of Tesla, an electric car manufacturing company, declined by 2%. Since the CEO of Tesla announced the acquisition of Twitter, Tesla’s shares have lost their footing.
To acquire Twitter, Elon Musk sold Tesla shares worth $39 billion. This has made Tesla vulnerable. Even though Elon Musk has said he would not sell any of his shares for two to three years, there has been no sign of stability in Tesla’s shares.
- Nutanix’s Share Price Also Declined
Recently the share price of ‘Nutanix,’ a cloud computing company, declined by 5%. The reason behind the decline in price was the rumor that “Hewlett Packard Enterprise” has decided they are no longer interested in acquiring Nutanix.
Later on, this news was confirmed by the officials of Hewlett Packard. The company has told CNBC that, as of now there are no negotiations are taking place with Nutanix over the possible purchase.
- Mission Produce Was Also Among the Worst Performer on Friday
The stock price of one of the biggest avocado producers declined by more than 14%. This slump in the price appeared after the company published its financial statement for the third quarter of 2022. The company profits were far lower than expectations.
A look at the performance of the above-mentioned companies shows a mixed market trend. However, it is important that investors must be careful.
