By Liz Moyer
Investing.com -- The Dow jumped but the Nasdaq was falling on Monday after a production cut by major oil-producing nations sparked fears over inflation. Here are the midday movers for April 3.
- Marathon Oil Corporation (NYSE:MRO) shares rose 9.9% after the surprise production cut by members of OPEC and its allies including Russia. Fellow oil companies also jumped. Chevron Corporation (NYSE:CVX) shares were up 4.3% and Exxon Mobil Corporation (NYSE:XOM) shares rose 5.7%.
- McDonald's Corporation (NYSE:MCD) shares were up 0.8% after reports the company had shut its corporate offices for three days this week while it conducts layoffs of hundreds of employees.
Illumina, Inc. (NASDAQ:ILMN) shares fell 2.6% after the Federal Trade Commission said the gene sequencing company had to undo its $7 billion acquisition of the cancer testing firm Grail.
- World Wrestling Entertainment, Inc. (NYSE:WWE) stock fell 3.7% after the entertainment company said Endeavor Group Holdings, Inc. (NYSE:EDR), which owns the Ultimate Fighting Championship, had agreed to buy it.
Tesla, Inc. (NASDAQ:TSLA) shares were down 6.7% after the electric vehicle maker beat expectations with a record number of vehicles delivered in the first quarter. Shares of Tesla are up 68% so far this year through Friday's close.