Rivian Shares Drop on $1.5B Bond Sale and Weak Outlook; Energy Stocks Fall with Oil Prices

Rivian stock dropped as the electric vehicle maker announced a $1.5 billion bond sale and issued disappointing Q3 guidance.

Energy stocks like Occidental, Chevron, and Exxon declined as crude oil prices fell sharply.

Clorox shares slipped after the company provided weaker-than-expected fiscal Q1 guidance and was hit by a cyberattack.

UWM Holdings stock rose after BTIG upgraded it to Buy, saying the valuation does not reflect potential interest rate stabilization.

Orchard Therapeutics shares soared on news it will be acquired by Japan's Kyowa Kirin for $478 million.