Check out the companies that make headlines for trading at noon.
Diamondback Energy — Exploration and production stocks fell about 3% amid falling oil prices. At some point on Monday, US oil benchmark West Texas Intermediate Crude Oil futures fell by more than 4%. In November, Occidental and Schlumberger fell by about 2%. Pioneer Natural Resources and Devon Energy each decreased by about 1.7%.
After Tesla-Jeffreys upgraded the company to buy from hold, electric vehicle inventories increased by more than 2%. A Wall Street company said Tesla “is leading the way in revenue momentum and capital allocation.” Jeffreys has raised its price target from $ 700 to $ 850 per share.
Coinbase-Cryptocurrency Exchange shares surged about 7.2% over the quarterly earnings report released Tuesday. Stock prices are closely related to Bitcoin prices, as Coinbase generates most of its revenue from transactions. Bitcoin reached $ 46,000 on Monday for the first time since May, breaking the 200-day moving average.
Robin Hood — Shares of a newly publicized online brokerage firm soared nearly 4% on Monday noon trading. Robin Hood’s stock has fluctuated since the IPO and has received a lot of attention from a crowd of retail investors.
Tyson Foods — Tyson Foods shares rose 8.3% after beef and chicken producers reported better-than-expected quarterly earnings reports. According to Refinitiv, the company’s quarterly earnings are $ 2.70 per share, well above the consensus estimate of $ 1.62 per share.
Sanderson Farms — Sanderson Farms shares surged 7.2% after poultry producers announced they would be acquired by private food producer Cargill and agricultural investment firm Continental Grain for $ 203 per share. Full cash trading is 11.3% above Friday’s 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 price of the stock would be an “attractive entry point” and said it was the top market share player in the lingerie category.
Darden Restaurant — The restaurant company’s share price fell by more than 4% after Evercore ISI downgraded its share price from outperform to line. The company said in a note to its customers that inflation, including rising wages, would hurt stock prices as the economy recovers.
— CNBC’s Tanaya Macchel, Maggie Fitzgerald, Jesse Pound and Yun Li contributed to the report
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