December 3, 2022

Market and Financial News

Market and Financial News Aggregator

Peloton, Tesla, Viasat, Wells Fargo, Box and more

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A Tesla electric vehicle at a supercharger station in Hawthorne, California, on Aug. 9, 2022.

Patrick T. Fallon | AFP | Getty Images

Check out the companies making the biggest moves midday Monday:

Credit Suisse — Shares of Credit Suisse rose 1.7%, reversing an earlier slump that sent the stock to a record low, after the bank over the weekend made a series of calls to calm investor fears about its financial health. In addition, the cost to insure the bank’s debt against default jumped to a new high.

Tesla — Tesla shares dropped 8.2% after the electric vehicle maker said it delivered 343,000 vehicles in the third quarter, less than analysts expected. However, Wall Street analysts were divided over the report.

Peloton — Peloton shares rose more than 6% after the exercise-equipment company announced it will put bikes in all 5,400 Hilton-branded hotels in the U.S. Peloton is trying to engineer a turnaround and also said last week that its bikes, treadmills and other hardware would be sold in Dick’s Sporting Goods locations.

Roblox — Shares of the gaming platform fell slightly after MoffettNathanson initiated coverage with an underperform rating. The Wall Street firm said it’s too soon to tell whether Roblox will ever meet its metaverse ambitions.

Viasat — Viasat jumped 28% on Monday after striking a deal with L3Harris to sell its tactical data links business. The deal is for just under $2 billion, the companies announced. Viasat said it would use the cash to reduce its leverage and increase liquidity.

Wells Fargo – Wells Fargo’s stock gained 3% after Goldman Sachs upgraded the bank to a buy rating from neutral and said investors are underappreciating its potential.

Livent — The lithium company dropped about half a percent after Bank of America downgraded the stock to underperform from neutral, citing “limited upside.”

DocuSign — DocuSign dropped slid 2.4% after being downgraded by Morgan Stanley to underweight from equal weight, citing pricing pressure.


2022-10-03 12:30:00

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