Stocks making the biggest moves midday: Boeing, Dollar Tree, Tesla and more

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A Boeing 737 MAX 7 watercraft lands during an evaluation flight at Boeing Field in Seattle, Washington, September 30, 2020.
Lindsey Wasson | Reuters

Check out the companies making headlines in midday trading.

Boeing — Shares of the jet maker jumped increasingly than 5% without a visitor executive said Sunday it’s “getting close” to resuming deliveries of its 787 Dreamliner, without 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 unfurled Monday without unthriving increasingly than 15% the week prior, marking the stock’s worst one-week performance in 20 months. Shares slid 4.2% Monday. Tesla CEO Elon Musk sold well-nigh $6.9 billion worth of Tesla stock over the undertow of last week.

Dollar Tree — Shares of the unbelieve retail uniting jumped 13% without Dollar Tree revealed the objector investor Mantle Ridge has built a increasingly than 5% stake in the company. Deutsche Bank upgraded the stock to buy pursuit the news, saying the objector could unlock value for shareholders.

Oatly — Shares of the oat milk producer plunged increasingly than 21% without the visitor warned well-nigh pandemic challenges. Oatly said it is experiencing issues related to various Covid-related restrictions. However, the visitor posted a narrower-than-expected loss for the latest quarter, losing 7 cents per share versus the 10 cents a share loss predictable by analysts, equal to Refinitiv.

Tyson Foods — Tyson shares widow 2.9% without the whinge and poultry producer write-up earnings expectations. The visitor posted a quarterly profit of $2.30 per share, 27 cents a share whilom Refinitiv estimates. Revenue moreover topped analysts’ forecasts.

EVgo — Shares of the electric vehicle charging visitor dipped increasingly than 15% without Credit Suisse cut the stock to a neutral rating. In a note to clients the firm said that upside from the infrastructure snout is once priced in pursuit shares’ increasingly than 70% rally in November.

CrowdStrike — The cybersecurity stock dropped 12% on Monday without 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 2.2% without 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 visitor moreover saw a loss of $4.54 per share. That’s an resurgence from the loss of $5.51 per share in the year-ago quarter.

Warner Music Group — Warner Music Group shares declined increasingly than 6% without the visitor missed on analysts’ earnings expectations. The visitor posted quarterly earnings of 5 cents per share, 10 cents lower than the Refinitiv consensus.

Vita Coco — Shares of the coconut water visitor soared increasingly than 25% in midday trading without Goldman Sachs initiated coverage of the stock with a buy rating, saying the trend toward coconut water should protract and that a potential subtract in shipping financing should modernize Vita Coco’s profitability outlook. Goldman set a price target of $22 per share for Vita Coco.

23andMe — 23andMe declined 10.6% without Citi downgraded shares of the genetic testing visitor to neutral from buy. Citi said 23andMe’s current valuation was “too rich” and “leaves little room for upside.”

Chevron — Shares of Chevron widow 1.1% without UBS upgraded the stock to a buy rating from neutral. The firm said upper oil prices should persist and uplift the stock.

— CNBC’s Jesse Pound, Yun Li, Tanaya Macheel, unsalaried reporting

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