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Clorox's stock falls after cyberattack hit, and other stocks on the move

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Shares of Orchard Therapeutics, Clorox and Rivian Automotive were on the move

Lamb Weston Holdings Inc. shares LW, +9.66% rose 9.4% after the producer of frozen potato products, including French fries, posted a fiscal first-quarter profit that beat expectations by a wide margin.

Orchard Therapeutics shares ORTX, +96.44% nearly doubled to $15.99 after the company agreed to be purchased by Kyowa Kirin 4151, -0.24% for at least $16 per share in cash, plus an additional contingent value right of $1 per share.Clorox Co. shares CLX, -6.31% fell 5.9% after the company cut its outlook following disruptions caused by a cyberattack first reported in August.

Shares of Rivian Automotive Inc. RIVN, -18.85% slid 18.8% after the electric-vehicle maker said it plans to offer $1.5 billion worth of “green” convertible senior notes due in 2030, and issued preliminary sales estimates that met Wall Street’s expectations. Rivian’s stock rose by 9% on Wednesday. BlackBerry Ltd. shares BB, -9.60% fell 9.8%. The stock had risen in Wednesday’s extended session after the company announced it plans to spin off its internet-of-things business in an initial public offering.

Exxon Mobil XOM, -2.22% shares fell 2%. The company said rising crude prices are likely to boost its third-quarter profit by $1 billion, but thinner margins from chemicals will hurt profits by as much as $600 million. Analysts at RBC said that the update from Exxon is likely to result in earnings above consensus expectations but roughly in line with investor expectations.

 

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