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Saturday, Aug 13, 2022
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Midday Stock Roundup

The S&P; 500 was down 0.9% to 4,627.16 in midday trading Friday.

The Dow Jones Industrial Average slipped 1.3% to 35,417.97, while the Nasdaq decreased 0.3% to 15,137.51.

Crude oil was off 2.1% to $70.88.

Gold rose 0.5% to $1,806.70.

The yield on a 10-year Treasury fell 2.3% to 1.39%.

AUTOMOTIVE

Irvine electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) slipped 14.1% to $93.48, a day after the company reported its quarterly results for the first time since going public last month. Rivian, with a market cap of $82.6 billion, saw its net loss widen in the third quarter as it confirmed 2021 production will likely miss its target by “a few hundred vehicles.”

FRANCHISING 

Fitness franchisor Xponential Fitness Inc. (NYSE: XPOF) rose 6.3% to $19.29 for a market cap of $461 million. The Irvine-based company’s shares are up more than 57% since going public in July.

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