Home Market News Biggest stock movers today: Warner Bros., NIO and more

Biggest stock movers today: Warner Bros., NIO and more

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Biggest stock movers today: Warner Bros., NIO and more
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Futures for stocks showed a slight decline on Monday as investors exercised caution ahead of crucial inflation data, which could further affect the market’s outlook for the rest of the year, following hawkish statements from Federal Reserve officials last week.

Here are some of today’s most notable stock movements:

Top Gainers

Warner Bros. Discovery (NASDAQ:WBD) saw its shares rise by over 4% after reaching a tentative agreement between the Writers Guild of America and Hollywood studios to end a strike that began in May. The agreement covers important aspects such as the regulation of artificial intelligence, salary increases, and additional royalty payments from streaming programs.

Joby Aviation (NYSE:JOBY) experienced a significant surge of over 8% following the early delivery of its first aircraft to Edwards Air Force Base, surpassing initial expectations by six months.

Top Losers

NIO (NYSE:NIO) shares tumbled more than 7% after the company announced the completion of two separate offerings of convertible senior notes: $500 million due in 2029 and $500 million due in 2030. The Chinese electric vehicle manufacturer sold these notes to qualified institutional buyers, taking advantage of the Rule 144A exemption from the Securities Act of 1933. NIO also used the net proceeds from the offering to purchase $256 million in 0.00% convertible senior notes due in 2026 and $244 million in 0.50% convertible senior notes due in 2027.

Li Auto (NASDAQ:LI) experienced a 9% decline amid increasing concerns about heightened competition following the recent product launch event by Huawei, a major rival. Known for its smartphones and networking equipment, Huawei has been expanding into the electric vehicle market with its first electric vehicle, the AITO M5, launched in April. Investors are worried that this expansion could lead to intensified competition for Li Auto.