Boeing, Dollar Tree, Tesla and more
American Airlines, Boeing 777
Massimo Insabato | Mondadori Portfolio | Getty Images
These are the headline-grabbing companies in midday trading.
Boeing — Shares of the jet maker jumped more than 5% after a company executive said Sunday it’s “getting close” to resuming deliveriesAfter suspending production, the 787 Dreamliner was re-instated. Although he did not give a time frame, he said that it would depend on ongoing discussions with regulators.
Tesla — The sell-off in Tesla shares continued Monday after declining more than 15% the week prior, marking the stock’s worst one-week performance in 20 months. The shares fell 4.2% Monday. Tesla CEO Elon Musk sold about $6.9 billion worth of Tesla stockOver the last week.
Dollar Tree — Shares of the discount retail chain jumped 13% after Dollar Tree revealed the activist investor Mantle RidgeHe has invested more than 5 percent in the business. Deutsche Bank bought the stock and upgraded it to buy after the news. The bank believes that the activist could bring about shareholder value.
Oatly — Shares of the oat milk producer plunged more than 21% after the company warned about pandemic challenges. Oatly stated that it faces issues due to Covid restrictions. However, the company posted a narrower-than-expected loss for the latest quarter, losing 7 cents per share versus the 10 cents a share loss anticipated by analysts, according to Refinitiv.
Tyson Foods — Tyson shares added 2.9% after the beef and poultry producer beat earnings expectations. It posted quarterly profits of $2.30 per shares, which is 27 cents more than Refinitiv’s estimates. Analysts’ estimates were also exceeded by revenue.
EVgo — Shares of the electric vehicle charging company dipped more than 15% after Credit Suisse cut the stock to a neutral rating. According to the company, the potential upside for the infrastructure bill has been priced into after the shares gained more than 70% during November.
CrowdStrike — The cybersecurity stock dropped 12% on Monday after Morgan Stanley initiated coverage of CrowdStrike at underweight. CrowdStrike stock could plummet due to rising competition and slower industry growth, according to the investment company.
WeWork — Shares of WeWork popped 2.2% after the company announced third-quarter earningsThis is the first company report since October’s public offering. WeWork reported that the total revenue was $661million, an increase of 11% over the prior quarter. Company also suffered an loss of $4.54 per shares. It’s a significant improvement over the quarter that saw a loss of $5.51 per shares.
Warner Music Group — Warner Music Group shares declined more than 6% after the company missed on analysts’ earnings expectations. Quarterly earnings were reported at 5 cents per Share, which is 10 cents less than Refinitiv’s consensus.
Vita Coco — Shares of the coconut water company soared more than 25% in midday trading after Goldman Sachs initiated coverage of the stock with a buy ratingThe company stated that the trend toward coconut water should be maintained and that Vita Coco should see a decrease in shipping expenses. This should help improve Vita Coco’s profitability. Vita Coco’s price target was $22 per Share by Goldman.
— CNBC’s Jesse Pound, Yun Li, Tanaya Macheel, contributed reporting