Tesla, Coinbase, Tyson Foods and more
Find out which companies are making headlines for midday trading.
Diamondback Energy – Exploration and production stocks fell about 3% on falling oil prices. At one point on Monday, benchmark US West Texas Intermediate crude oil futures fell more than 4%. In November, Occidental and Schlumberger fell about 2%. Pioneer Natural Resources and Devon Energy each fell about 1.7%.
After Tesla-Jeffreys upgraded the business to Buy Pending, EV inventories rose more than 2%. A Wall Street company said Tesla “leads the way in income dynamics and capital allocation.” Jeffreys raised his price target from $ 700 to $ 850 per share.
Coinbase-Cryptocurrency Exchange shares jumped about 7.2% from the quarterly earnings report released on Tuesday. Stock prices are closely tied to Bitcoin prices, as Coinbase generates most of its income from transactions. Bitcoin hit $ 46,000 on Monday for the first time since May, surpassing the 200-day moving average.
Robin Hood – Shares of a recently announced online brokerage firm climbed nearly 4% at noon Monday. Robin Hood shares have fluctuated since the IPO and have received a lot of attention from a host of retail investors.
Tyson Foods – Tyson Foods shares rose 8.3% after beef and chicken producers released better-than-expected quarterly earnings reports. According to Refinitiv, the company’s quarterly profits are $ 2.70 per share, well above the consensus estimate of $ 1.62 per share.
Sanderson Farms – Shares of Sanderson Farms jumped 7.2% after poultry producers announced they would be acquired by private food producer Cargill and farm investment firm Continental Grain for $ 203 a share. Full cash trading is 11.3% above the Friday closing price.
Victoria’s Secret – Victoria’s Secret’s share rose 7.2% after JP Morgan Chase began reporting overrated lingerie retailers. The company said the current share price would be an “attractive entry point” and said it was the leading market share player in the lingerie category.
Darden Restaurant – The restaurant company’s share price fell more than 4% after Evercore ISI lowered its share price from outperformance to line. The company said in a note to clients that inflation, including rising wages, will hurt stock prices as the economy recovers.
– CNBC’s Tanaya Macchel, Maggie Fitzgerald, Jesse Pound and Yun Li contributed reporting
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