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Midday Movers: Boeing, Apple, NIO and More

by Liz Moyer

Investing.com – After gains in July, US stocks weakened on Monday. Here are the afternoon movers for August 1:

The Boeing Company (NYSE:BA) shares rose 6% after the Federal Aviation Administration approved a plan to validate repairs on its 787 Dreamliner, allowing it to resume deliveries of the jet.

Apple Inc. (NASDAQ:AAPL) shares fell 0.5% after another bond sale was announced, this time in four tranches with different maturities, for general corporate purposes including paying dividends and buying back stock. NIO Inc. (NYSE:NIO) and Lee Auto Inc (NASDAQ:LI) shares rose 2.3% and 2.5%, respectively, after Chinese electric vehicle rivals reported increased July deliveries. DraftKings Inc. (NASDAQ:DKNG) shares rose 1.4% as Massachusetts headed to become the latest state to allow sports betting. ESPN reported that the legislature reached an agreement Monday that allows licensed sportsbooks to offer sports betting with certain restrictions. weber inc (NYSE:WEBR) stock fell 3.3% after UBS cut its rating from neutral to sell, saying the pandemic’s growth in grills buying is waning and the future looks more challenging. Falling home buying is also putting pressure on the outlook.

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