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Chinese EV makers edge higher, GE trades on reverse stock split, Moderna & Pfizer raise prices

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Yahoo Finance’s Ines Ferre reports on the day's trending tickers.

Video Transcript

ALEXIS CHRISTOFOROUS: We've got Ines Ferré for us in the studio right now taking a look at some of the tickers that are trending today. Ines, I know you have your eye on the automakers, and I'm seeing a lot of green on your screen there.

INES FERRÉ: Yeah, that's right. The Chinese electric vehicle makers are in the green today. This is after some strong July sales in China, more than tripling year over year. So you had record sales there. So we're taking a look at NIO, up more than 3% today. NIO though, year to date is still in negative territory, down more than 4%.

Xpeng also we've been watching this stock up more than 2% year to date. And today you're seeing some gains with the stock as well, up 8%. And then Li Auto also higher today and year to date also. This stock is in the green, one of the better performers out of the Chinese vehicle makers. Tesla, I want to mention, by the way, up 4% The longest winning streak for Tesla since January, Alexis.

KRISTIN MYERS: All right, and Ines, another stock that we're looking at today, that's General Electric. They've got a reverse stock split. Give us the details there.

INES FERRÉ: Yeah, that's right. So today General Electric is-- I'm going to pull it up in the Trending Tickers here. It's one of the Trending Tickers today, it's down about 1%. But this is a reverse stock split, a 1 for eight reverse stock split. This does not change the market cap of the company, stock split doesn't but it is more cosmetic. And what it does do, it reduces the amount of outstanding shares from 8 billion to about 1 billion. You'll recall that GE had been trading around the $12 range there for a while. Well, when you do that reverse stock split, of course, now it's $101 a share, just above that. Right now it's in negative territory, down about 1.5% but it had opened higher earlier this morning.

ALEXIS CHRISTOFOROUS: All right, Ines, I also know that we've got Moderna and Pfizer back in the news. It looks like they're thinking about raising or they have raised the price of their vaccines.

INES FERRÉ: That's right. And let me just pull up right now some of the stocks here with Pfizer and also BioNTech up 3%, Pfizer up 2%. Moderna had been in green territory earlier, it's down about 1% right now in our intraday chart. But they, Moderna and Pfizer according to the Financial Times have increased the price of the COVID-19 vaccine when it comes to the supply contracts for the EU.

So just to give you an idea how much these cost, Pfizer had these vaccines at 15.50 euros and now has increased that to 19.50. And Moderna had them 19 euros per vaccine, now it's increased to 25.50 for euros. So quite an increase there when it comes to this supply contract for the EU. The EU by the way, saying that it will be able to reach 70% of adults vaccinated by the end of the summer.

And something else really important, Alexis. I wanted to mention as well, the Wall Street Journal reporting that the FDA is under pressure to approve fully the vaccines that we're talking about, Moderna's vaccine, Pfizer's vaccine, BioNTech's, because of these mandates that we're having with some companies that are mandating their employees when they go back to the office to have their vaccine, with some government agencies that are also mandating this. So the Wall Street Journal is saying that the FDA is getting some pressure to fully approve these vaccines. Remember that these vaccines are approved for emergency use authorization up until now.

KRISTIN MYERS: All right. And Ines, of course, we have a lot of companies reporting this week. One of them is actually going to be Take-Two Interactive. Tell us what we can expect after the bell when they report.

INES FERRÉ: Yeah, well right now Take-Two is up just about 0.8%. This is a five-day chart that we're looking at. Here on Friday, this stock was up. And analysts are expecting for the company to raise its full-year forecast but year to date this stock is actually down about 15%.

The company didn't make any new titles during the last quarter but that is typical for the quarter but analysts are expecting a decline when it comes to profit, when it comes to revenue, a year over year decline and of course, that's also because people have been playing-- were playing a lot of video games in the thick of the pandemic. I want to mention that Credit Suisse had increased its price target on to Take-Two Interactive. So we're just watching this stock ahead of earnings after the close today.

ALEXIS CHRISTOFOROUS: All right, going to be a busy week as we said. Ines Ferré, thanks so much.