At midday, Goldman Sachs' stock dropped 2.2%, following other banks in cutting its forecast for economic growth in China. Avis saw its stock surge over 6% after Morgan Stanley upgraded the car rental company to an overweight rating. Both Chevron and ExxonMobil shares fell more than 2% in midday trading due to uncertainty surrounding oil demand in China. Nike shares decreased nearly 3% after UBS suggested its full-year 2024 guidance could fall short of expectations. Rivian stock rallied more than 4% after the EV company announced customers would have access to the Tesla charging network in 2024. Intel saw its stock dip 3.8% Tuesday after news the firm would spend over 30 billion euros on two semiconductor plants in Germany, and receive a 10 billion euro subsidy package. Dice Therapeutics shares rocketed 37% with Eli Lilly's planned acquisition of the biopharma company and its $48 per share offer, 40% higher than Friday's closing price. Alibaba's Chairman and CEO Daniel Zhang announcing his departure in September pushed the telecommunication firm's stock down 5%. Atmus Filtration rose 5.5% following the initiation of coverage by Goldman Sachs, Bank of America, JPMorgan Chase and Wells Fargo, while SoFi Technologies' shares dropped 1.2%. C3.ai saw its stock fall 2.2% in anticipation of its investor conference in New York City on Thursday. CNBC's Jesse Pound, Alex Harring and Michelle Fox Theobald reported on the developments.
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