Midday movers: 3M, XPeng, Hawaiian Electric Industries and more
Investing.com -- Stocks were rising ahead of a big week of economic reports, including the August jobs report due out on Friday.
These are the stocks that are on the move for Monday, Aug. 28.
3M Company (NYSE:MMM) stock rose 5.1%, following media reports that the industrial conglomerate has tentatively agreed to pay over $5.5 billion to resolve hundreds of thousands of lawsuits alleging that its earplugs sold to the U.S. military were defective. Xpeng Inc.'s (NYSE:XPEV) U.S. shares climbed 4.3%, following a move by the Chinese electric vehicle start-up to purchase DiDi Global Inc.'s (OTC:DIDIY) smart-car development business in a deal that both removes a possible competitor and adds a tech-savvy strategic partner. Hawaiian Electric Company, Inc. (NYSE:HE) shares surged 40% after its subsidiary Hawaiian Electric Co. released a statement saying its power lines were not energized when a deadly wildfire broke out on Maui earlier this month. VinFast Auto (NASDAQ:VFS) shares jumped 17.6% in the latest bout of volatile trading in the Vietnamese electric vehicle group that went public through a merger with a blank-check firm on August 15. Novocure Ltd. (NASDAQ:NVCR) shares slid 35% after the oncology company said a late-stage trial showed that its therapy missed its main target of improving survival rates in patients suffering from a type of ovarian cancer.
-- Scott Kanowsky contributed to this report.
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Midday movers: 3M, XPeng, Hawaiian Electric Industries and more
