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Midday movers: Walt Disney, Wynn Resorts, Coinbase and more

Investing.com
·1-min read

By Liz Moyer

Investing.com -- Stocks were trading lower on Monday as new lockdowns in China to contain the spread of Covid-19 sparked fear of a global slowdown. Here are the midday movers for Nov. 21:

Walt Disney Company (NYSE:DIS) shares jumped 5% a day after the movie studio and theme park operator brought former CEO Bob Iger back to replace Bob Chapek effective immediately. Disney has had difficulty spending to build its streaming business and make money off of it.

Wynn Resorts Limited (NASDAQ:WYNN) stock fell 3% after new lockdowns in China to contain the spread of Covid-19 weighed on stocks of casinos that have operations in the region. Las Vegas Sands Corp (NYSE:LVS) stock also fell, down 4.3%.

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Coinbase Global Inc (NASDAQ:COIN) shares were down 9.4% as the biggest cryptocurrency Bitcoin continued to fall in reaction to the collapse of crypto exchange FTX. Bitcoin is down more than 3% to below $16,000.

JM Smucker Company (NYSE:SJM) stock rose more than 1% after the maker of jams, jellies and Folgers coffee beat expectations for revenue and profit and raised its full-year guidance.

Marathon Oil Corporation (NYSE:MRO) stock fell 2.6% after oil prices swooned on Monday, weighed by worries about global growth. Oil prices started to come back, but Brent crude was still below $90 a barrel. Other producers' shares fell, too. Exxon Mobil Corp (NYSE:XOM) stock was down 1%. Chevron Corp (NYSE:CVX) shares fell 0.8%.

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