Major Wall Street indices closed over 1% lower on Monday after protests in China against COVID-zero policies led to supply chain concerns. Oil also took a hit with the West Texas Intermediate (WTI) futures briefly hitting their 11-month low during Asian trading over demand worries. Investors and traders are now eyeing the personal consumption expenditures and payroll data scheduled to be released later this week. Meanwhile, here are five stocks that are drawing investors’ attention:
1. Tesla Inc TSLA: Tesla shares briefly rose on Monday after a report indicated the company is working on a revamped Model 3 vehicle, which could reduce costs. Tesla is in the process of rolling out an improved version of its Model 3, codenamed project "Highland.” Shares of the EV-maker closed the session on a flat note.
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2. Apple Inc AAPL: Turmoil at Apple’s key manufacturing hub of Zhengzhou may lead to a production shortfall of about 6 million iPhone Pro units this year, reported Bloomberg, citing a source. The situation remains fluid at the plant and the estimate of the shortfall may change, the report added. Shares of the iPhone maker closed 2.63% lower on Monday.
3. Anavex Life Sciences Corp AVXL: Shares of the clinical-stage biopharmaceutical company closed 23.47% lower on Monday after the company reported losses widening to $14.3 million, or $0.18 per share, for the September quarter from a net loss of $11.7 million, or $0.15 per share, a year earlier.
4. Axsome Therapeutics Inc AXSM: Shares of the biopharmaceutical company ended 31.54% higher on Monday after it announced that its AXS-05 substantially delayed the time to relapse and prevented relapse of agitation in patients with Alzheimer's disease, compared to placebo.
5. Pinduoduo Inc PDD: Shares of China’s largest agriculture platform closed 12.62% higher on Monday after the company reported third-quarter revenue growth of 65% year-on-year to $4.99 billion, beating the consensus of $4.31 billion.
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