{"id":54043,"date":"2023-08-28T15:47:57","date_gmt":"2023-08-28T19:47:57","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/3m-jabil-hawaiian-electric-boston-scientific-xpeng-nvidia-and-more-market-movers\/"},"modified":"2023-08-28T15:47:59","modified_gmt":"2023-08-28T19:47:59","slug":"3m-jabil-hawaiian-electric-boston-scientific-xpeng-nvidia-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54043","title":{"rendered":"3M, Jabil, Hawaiian Electric, Boston Scientific, XPeng, Nvidia, and More Market Movers"},"content":{"rendered":"
\n
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<\/p>\n
<\/div>\n<\/figure><\/div>\n

Stocks rose Monday, putting the
\n S&P 500
\n on pace to finish higher for a second-consecutive session. The index hasn\u2019t risen for two straight days in August.<\/p>\n

These stocks were making moves Monday:\u00a0<\/p>\n

\n 3M
\n (MMM) rose 5% following a report from The Wall Street Journal that said the company and plaintiffs attorneys were nearing a settlement in which 3M would pay $5.5 billion to resolve claims it sold faulty combat earplugs to the U.S. military. Negotiations are continuing, people close to the discussions told the Journal, and the final amount hasn\u2019t been established yet.\u00a0<\/p>\n

\n

\n Jabil
\n (JBL) reached an agreement to sell its manufacturing business in China to
\n BYD Electronic,<\/span>
\n a subsidiary of Chinese electric-vehicle maker
\n BYD,<\/span>
\n in a deal valued at about $2.2 billion. In a statement,
\n Jabil
\n said the transaction would be the largest in the history of the contract electronics manufacturer. Jabil shares were up 9.2%.<\/p>\n

\n Hawaiian Electric
\n (HE) surged 40% after the utility pushed back against allegations its power lines caused a deadly wildfire on the island of Maui in Hawaii.\u00a0The company suggested it intends to defend itself as it faces\u00a0lawsuits\u00a0around the devastating wildfires in Hawaii earlier this month.<\/p>\n

\n Boston Scientific
\n (BSX) rose 5.4% and was the best performer in the S&P 500 after a study of pulsed field ablation in patients with atrial fibrillation, or abnormal heartbeats, met primary and safety endpoints.<\/p>\n

\n Novocure
\n (NVCR) dropped 35% after a failure of an ovarian cancer study. The Swiss company said a late-stage trial of Tumor Treating Fields with paclitaxel failed to meet its primary endpoint of overall survival in patients with ovarian cancer.\u00a0<\/p>\n

U.S.-listed shares of
\n XPeng
\n (XPEV) jumped 4.5% after the Chinese electric-vehicle maker announced it would acquire
\n DiDi Global
\n \u2018s (DIDI)\u00a0smart auto development business for $744 million. <\/p>\n

\n CrowdStrike
\n (CRWD) was downgraded to Equal Weight from Overweight at
\n Morgan Stanley
\n and the price target was lowered to $167 from $178. Shares of the cybersecurity company fell 3.6% to $144.25.<\/p>\n

American depositary receipts of
\n Alibaba
\n (BABA) rose 2.8%,
\n JD.com
\n (JD) gained 2.5%, and
\n Baidu
\n (BIDU) rose 3.2% after the Chinese government said it would reduce a tax on trading and take other steps to boost its capital markets.<\/p>\n

\n Horizon Therapeutics
\n (HZNP) was up 5.6% after the Federal Trade Commission suspended its challenge of
\n Amgen
\n \u2018s (AMGN) $27.8 billion acquisition of the biotechnology company. The pause, effective until Sept. 18, allows the FTC\u2019s three commissioners to decide whether the agency should settle the case, The Wall Street Journal reported.<\/p>\n

\n Nvidia
\n (NVDA) was up 1.8%. Barron\u2019s<\/em> highlighted that even with the stock\u2019s 215% jump this year the latest earnings report from the leader in AI chips made the shares cheaper. The forward price\/earnings ratio, which measures a stock\u2019s current price relative to earnings in the future, often in the next year, shows\u00a0Nvidia\u00a0shares are now cheaper than they have been since Jan. 5, though the stock has soared since then.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks rose Monday, putting the S&P 500 on pace to finish higher for a second-consecutive session. The index hasn\u2019t risen for two straight days in August. These stocks were making moves Monday:\u00a0 3M (MMM) rose 5% following a report from The Wall Street Journal that said the company and plaintiffs attorneys were nearing a settlement […]<\/p>\n","protected":false},"author":1,"featured_media":25858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-54043","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\n3M, Jabil, Hawaiian Electric, Boston Scientific, XPeng, Nvidia, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks rose Monday, putting the S&P 500 on pace to finish higher for a second-consecutive session. 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