Check out the companies making headlines in midday trading.
Boeing — Shares of the jet maker jumped 5.5% after a company executive said Sunday it’s “getting close” to resuming deliveries of its 787 Dreamliner, after suspending them to deal with production issues. He did not specify timing, but said it depends on the results of ongoing talks with regulators.
Tesla — The sell-off in Tesla shares continued Monday after declining more than 15% the week prior, marking the stock’s worst one-week performance in 20 months. Shares slid 1.9% on Monday. Tesla CEO Elon Musk sold about $6.9 billion worth of Tesla stock over the course of last week.
Dollar Tree — Shares of the discount retail chain jumped 14.3% after Dollar Tree revealed the activist investor Mantle Ridge has built a more than 5% stake in the company. Deutsche Bank upgraded the stock to buy following the news, saying the activist could unlock value for shareholders.
Oatly — Shares of the oat milk producer plunged 20.8% after the company warned about pandemic challenges. Oatly said it is experiencing issues related to various Covid-related restrictions. However, the company posted a narrower-than-expected loss for the latest quarter, losing 7 cents per share versus the 10 cents a share loss anticipated by analysts, according to Refinitiv.
Tyson Foods — Tyson shares added 3.6% after the beef and poultry producer beat earnings expectations. The company posted a quarterly profit of $2.30 per share, 27 cents a share above Refinitiv estimates. Revenue also topped analysts’ forecasts.
EVgo — Shares of the electric vehicle charging company dipped 14.3% after Credit Suisse cut the stock to a neutral rating. In a note to clients the firm said that upside from the infrastructure bill is already priced in following shares’ more than 70% rally in November.
CrowdStrike — The cybersecurity stock dropped 10.6% on Monday after Morgan Stanley initiated coverage of CrowdStrike at underweight. The investment firm said in a note to clients that rising competition and slowing industry growth meant that CrowdStrike shares could fall.
WeWork — Shares of WeWork popped 3.4% after the company announced third-quarter earnings, the company’s first report since going public in October. Total revenue for the quarter was $661 million, up 11% from the previous quarter, WeWork said. The company also saw a loss of $4.54 per share. That’s an improvement from the loss of $5.51 per share in the year-ago quarter.
Warner Music Group — Warner Music Group shares declined 6.2% after the company missed on analysts’ earnings expectations. The company posted quarterly earnings of 5 cents per share, 10 cents lower than the Refinitiv consensus.
Vita Coco — Shares of the coconut water company soared 21.2% in midday trading after Goldman Sachs initiated coverage of the stock with a buy rating, saying the trend toward coconut water should continue and that a potential decrease in shipping costs should improve Vita Coco’s profitability outlook. Goldman set a price target of $22 per share for Vita Coco.
23andMe — 23andMe declined 11.5% after Citi downgraded shares of the genetic testing company to neutral from buy. Citi said 23andMe’s current valuation was “too rich” and “leaves little room for upside.”
Chevron — Shares of Chevron added 2.3% after UBS upgraded the stock to a buy rating from neutral. The firm said high oil prices should persist and boost the stock.
— CNBC’s Jesse Pound, Yun Li, Tanaya Macheel, contributed reporting
Fact-checkers target Biden over ‘false and misleading’ statements about the economy
Tyre Nichols death: Eric Garner’s mother asks ‘When is it going to stop?’
A timeline of the Israeli-Palestinian conflict since 1948
Madison Brooks suspect faces second rape charge for alleged 2020 assault of minor
Dog recovering after spending days 'cemented' to Florida sidewalk
Brady: Premier League is UK’s best asset but must remain elite to keep success
What to Know About Moderna’s RSV Vaccine for Adults, According to Experts
Wired Headphones Are Back, Baby! Here Are 7 Excellent Pairs to Buy Now
The first “Bored Ape” NFT game costs $2,300+ for three weeks of play
The Enduring Mystery of an Aggressive FBI Raid Near Area 51
Morgan Wallen’s New Music Video Suggests Fans Haven’t Actually Canceled Him
Tired of doing laundry? There’s app-solutely a solution.
John Lennon Revealed The Beatles Song That Was Written During Two Separate Acid Trips
Three Unique Embedded Fintech Distribution Models Growing Fast
A pair of former Patriots players reportedly set to interview for team’s OL coach position
News17 hours ago
Tesla just had its best week since May 2013
News16 hours ago
Driver in California Tesla crash jailed for attempted murder
News16 hours ago
Stocks may face an inflection point in the week ahead as the Fed meets and Apple posts earnings
Finance23 hours ago
Amazon to Enter the Crypto NFT Market with Gaming Initiative – Here’s What You Need to Know
Politics18 hours ago
Election losses only deepen Arizona Republicans’ insistence on fraud
News14 hours ago
Joanna Gaines Reveals What She’d Be Doing If It Weren’t for Her Interior Design Career
Lifestyle16 hours ago
Jailed ‘Scrubs’ Writer Eric Weinberg Faces 12 More Sexual Assault Lawsuits
Tech17 hours ago
Dungeons & Dragons Scraps Plans to Update Its Open Game License