Nio, Nikola, Microsoft, Qualcomm, ADT & more

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Check out the companies making headlines midday Monday:

Nio — U.S.-traded shares of the China-based electric vehicle company jumped more than 10% after Nio reported July delivery figures. The company said that July deliveries jumped 322% year over year to 3,533 vehicles. Through the end of July the company has delivered 17,702 vehicles this year.

Eli Lilly — Shares of the drugmaker rose 1.5% after the company announced that it started a phase three trial of an experimental preventative treatment for Covid-19. The trial is focused on patients and staff members at long-term care facilities, which have been the site of some of the worst outbreaks in the United States.

Microsoft — Microsoft shares rose more than 3% after the tech giant confirmed it was in talks to buy social video app TikTok. The news comes as President Donald Trump threatened to ban the popular app in the U.S., citing security concerns over the ties between TikTok’s parent company and China.

Clorox  — Shares of the maker of bleach and disinfecting wipes dipped more than 1.5% despite the company beating on the top and bottom lines of its quarterly earnings. Clorox earned $2.41 per share on revenue of $1.98 billion. Analysts polled by Refinitiv expected earnings of $1.99 on revenue of $1.87 billion. The company named President Linda Rendle as the new CEO, effective Sept. 14.

DuPont — An analyst at Stephens downgraded DuPont to equal weight from overweight, noting the company is “lacking” revenue growth that’s driven by “innovation.” “With the economy in the tank, innovation is harder to monetize, which is pushing back recovery further,” the analyst said. DuPont shares fell 1.3%.

Kodak — Kodak shares swooned more than 18% in midday trading as the volatile equity again curbed a significant portion of its eye-popping gains from July. Though Kodak shares are still up more than 700% over the last month after the Trump administration announced a $765 million financing deal, they are now worth $17.30 per share compared with $60 per share just last week.

Nikola — The electric truck maker’s stock jumped more than 7% ahead of the company’s earnings results on Tuesday after the market closes. The report will be the first for the company, which went public through a reverse merger with special purpose acquisition company VectoIQ in June. The stock is currently more than 60% below its June 9 high of $93.99 per share.

Qualcomm — Qualcomm jumped more than 5% after Bernstein upgraded the chipmaker to outperform from market perform. The Wall Street firm said it’s bullish on the upcoming 5G cycle and sees a more “positive” risk/reward than it has been in a long time. Bernstein also cited “a cleaner outlook around customer and regulatory disputes and potential further upside from possible Huawei chip sales.” Last week, the company reported better-than-expected quarterly earnings and revenue.

ADT — The home security stock surged more than 60% after it announced a partnership with Google involving the Nest hardware product. As part of the deal, Google will invest $450 million in ADT to take a 6.6% stake in the company.

Casper Sleep — Shares of the mattress maker dropped more than 11% ahead of a big lock-up expiration. On Tuesday, Casper insiders will be able to sell 31.3 million shares, or 78.8% of the company’s total shares outstanding.

HSBC — The U.S.-listed shares of HSBC fell more than 4% after the banking giant reported a 65% drop in pre-tax profits for the first half of the year due to the coronavirus pandemic. “The first six months of 2020 have been some of the most challenging in living memory,” said CEO Noel Quinn in a statement.

—CNBC’s Yun Li, Pippa Stevens, Maggie Fitzgerald, Jesse Pound, Michael Bloom and Tom Franck contributed to this report.

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