Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.’s stake in Nio China to 88.3% from its current 92.1%. Stellantis — The stock fell more than 13%, hitting a new 52-week low, following the automaker’s full-year profit warning . Stellantis pointed to a deteriorating “global industry backdrop” as well as increasing competition from China. Fellow automakers GM and Ford also moved lower in sympathy, falling nearly 4% and more than 2%, respectively. Alibaba — The Chinese e-commerce stock rose nearly 2% after the country’s central bank said it would ask banks to cut mortgage rates on existing home loans before Oct. 31. CVS Health — Shares jumped 3.3% on news that hedge fund Glenview Capital intends to meet with CVS Health’s executives to boost the struggling business. Glenview Capital has established a sizable position in the company, people familiar with the matter told CNBC. Crypto stocks — Stocks tied to the price of bi …
