Stocks making the biggest moves midday: Tesla, The New York Times, NetEase and more
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Check out the companies making headlines in midday trading. Tesla — The electric vehicle maker added 1.9% after Bloomberg News reported improvements to its Model Y vehicle are coming. Tesla plans to revamp the car from its Shanghai plant starting in the middle of 2024, the report said. The New York Times Company — Shares jumped 1.9% after The New York Times on Wednesday filed a lawsuit against Microsoft and ChatGPT-parent OpenAI, accusing the tech companies of copyright infringement and unlawfully using the newspaper’s intellectual property to train large language models. NetEase — Shares of the Chinese internet company rebounded nearly 12% after China’s top gaming regulator promised to “further modify and improve” fresh rules targeting excessive gaming. Rival Tencent climbed 4%, while Bilibili , a social media site involved in Chinese domestic gaming, jumped 6.7%. Coherus BioSciences — The biopharma stock soared 34% after the U.S. Food and Drug Administration approved Udenyca Onbody, an on-body injection system that patients take in conjunction with chemotherapy to prevent infection. The company expects Udenyca Onbody to be commercially available beginning in the first quarter of next year. Iovance Biotherapeutics — The biotech stock plunged nearly 23% after regulators put a clinical hold on Iovance’s trial of LN-145 for non-small cell lung cancer.
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