A red Tesla car drives past a Tesla dealership in Wanchai, Hong Kong, China, 13 September 2022. (Photo by Mark Fernandes/NurPhoto via Getty Images)
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Check out the companies making headlines in afternoon trading.
Tesla — Tesla shares rose 8% on Saturday after lawyers for CEO Elon Musk asked a California court to move the company’s stock to Texas, citing local negativity.
Advanced Micro Devices – The chip giant jumped 7.7% in Monday’s rally, led by semiconductor shares. The advance pushed the stock above its 50-day moving average. Wells Fargo named AMD a top pick in the semiconductor sector on Monday.
NVIDIA – The Chip stock climbed 7.6% in afternoon trade. Earlier in the day, Nvidia was named a top pick for 2023 by Wells Fargo analysts, who said they see a positive data center product cycle being realized by the end of the year.
regenerateron Regeneron slipped 5% after the pharmaceutical company said sales of its Ilya drug were negatively impacted by a shift to an off-label competitor in the final quarter of 2022.
Lululemon — Athletic stock fell more than 8% after Lululemon’s changed its guidance to show it expected gross margin to narrow for the fourth quarter. The company said it expects net revenue to exceed its previous guidance range.
Zillow — Shares of the real estate marketplace company soared nearly 10% after Bank of America double upgraded stock to buy and said they could be up 20% by Friday’s close, citing their improved growth outlook despite a challenging macroeconomic environment.
Uber Uber shares soared 5.2% on upgrade from — Piper Sandler to Weigh Over a Neutral Rating, The firm said rising inflation and car prices should boost the appetite for ride sharing.
Hologic — Shares rose nearly 4% after the women’s diagnostics provider reported fiscal first-quarter revenue of $1.07 billion, topping its most recent guidance of $940 million to $990 million. That revenue also topped Wall Street’s expectations.
duck creek Duck Creek soared 47% after it said Vista Equity Partners would take the insurance intelligence solutions provider private for $19 a share.
Energy Stocks – Rising energy and natural gas prices boosted stocks EQT Corporation 5.2%, as well marathon oil And halliburtonIn which there was an increase of 2% and about 1% respectively.
Ceridian HCM Shares of Ceridian HCM rose 5%. MoffettNathanson initiated coverage of the human resources software provider with a Market Perform rating, saying shares have a 12% upside to the firm’s $68 price target.
Monolithic Power Systems — Shares of Monolithic Power Systems soared 6.4% amid a semiconductor rally following shares of Nvidia and Advanced Micro Devices.
Baxter International – Health care company Baxter International slumped 7.4%, hitting a 52-week low, after announcing it would restructure and spin off its kidney care business.
Oracle – Oracle advanced after 2.6% Piper Sandler upgraded the stock to Overweight A long period of years of low to neutral growth could be coming to an end.
Goldman Sachs – Shares rose 2% after the banking giant’s report The layoff of 3,200 employees, or 6.5% of the workforce, in October. This is lower than the 8% reported last month.
teladoc Teladoc shares soared 6.4% after the company announced its revenue for the fourth quarter of 2022 would exceed analysts’ expectations – beating the $631 million consensus by reporting a narrow range of $633 million to $640 million ready for.
— CNBC’s Samantha Subin, Alex Haring, Sarah Min, Jesse Pound, Yun Lee, Michelle Fox and Tanya Machel contributed reporting