Ford Motor Co. shares F, +1.88% rose 2% as UBS lifted its rating on the automaker to buy from sell as part of new coverage of U.S. auto stocks. Shares of General Motors GM, +2.61%, also rated buy, rose 1%. Neutral-rated Tesla TSLA, -2.23% rose 0.5%.
Rocket Pharmaceuticals shares RCKT, -1.55% surged 18% to $18.09 after saying it’s reached an agreement with the Food and Drug Administration on a Phase 2 trial design for a Danon disease drug as it’s pricing the sale of 7.8 million shares at $16. Stock decliners: Nio NIO, +2.32% and Li Auto LI, +2.88% shares both declined by 2%. The European Union said it’s probing Chinese government subsidies to electric vehicle makers.
Apple shares AAPL, -1.71% slipped 0.2%. A Chinese government spokesperson denied there’s a ban in place on foreign phones but noted “security incidents” with the iPhone. Evolution Petroleum shares EPM, -1.45% fell 15% as the shale oil and gas company missed analyst earnings expectations and said it had extended downtime and maintenance across multiple fields.