Elon Musk, CEO of Tesla, gesticulates when he visits the construction site of the future US electric car giant Tesla in Gruenheide near Berlin on September 3, 2020.
Odd Andersen | AFP | Getty Images
Check out the companies making headlines on Monday lunchtime:
Tesla – Tesla jumped more than 4% and hit a new all-time high. The move will take place prior to the company’s inclusion in the S&P 500, which is expected to take place before the start of trading on December 21. The electric vehicle maker’s shares have soared more than 650% this year.
Eastman Kodak – The camera company’s shares rose more than 50% after the Wall Street Journal reported that a state watchdog found no wrongdoing at Kodak when it received a government loan to manufacture pharmaceutical ingredients. The more than $ 700 million loan made shares skyrocket when it was first announced in July, but Kodak’s shares were lost when a government agency put the deal on hold.
McDonald’s – McDonald’s shares were downgraded to equal weight and down 1.4% due to an overweight position at Stephens. The analyst cited limited upward catalysts for the evolving fast food giant.
Lyft – An analyst at Piper Sandler has upgraded the ride-hail company from neutral to overweight, noting that there are several factors that could make the stock 30% higher than current levels. “LYFT has nonetheless demonstrated an improved ability to extract revenue from every additional mile traveled in the US,” the analyst said. Lyft stock rose roughly 1%.
Vail Resorts – Vail Resorts was down 2.8% after Truist downgraded the stock from Buy for a more unfavorable risk / reward ratio. “While we firmly believe in a rapid rebound in vacation travel, driven by large pent-up demand, that rebound appears to be priced in for stocks of MTN,” the analyst said.
SL Green – The real estate company’s shares fell around 2% on Monday after the 2021 fund from operations per share forecast was at the lower end of Wall Street’s expectations, according to FactSet. SL Green also stepped up its share buyback program, announcing that it signed leases for nearly 400,000 square feet of Manhattan office space in the fourth quarter.
Chevron – Chevron stocks fell more than 2% after being downgraded from purchases at Tudor, Pickering, Holt & Co., with compelling risk-reward and free cash flow offerings elsewhere, “the company said in a statement to customers .
Teladoc – Telemedicine company’s shares lost 1.7% after being downgraded to equal weight due to being overweight at Stephens. The Wall Street company said increased competition could create an overhang for “stay-at-home” stock.
Exxon Mobil – Exxon was down 1.2% after Engine No. 1, a newly formed activist, sent out a letter urging the energy giant to focus more on clean energy and cut other costs.
Interactive Brokers – The online broker’s stocks fell more than 2% due to technical issues on their trading platform. “We are having technical difficulties and are working to restore the services,” tweeted Interactive Brokers on Monday.
Palantir – Palantir rose more than 12% after Bloomberg News reported the Food and Drug Administration awarded the company a $ 44.4 million drug deal over three years.