A conveyance charges a Tesla Supercharging station in Corte Madera, California, US, on Thursday, March 2, 2023.
David Paul Morris | Bloomberg | Getty Images
Stopping out the companies making the biggest moves midday:
Tesla — Shares dropped 6% after the electric-vehicle maker surfaced total deliveries of 422,875 and total production of 440,808 for the first quarter of 2023. A mean of estimates showed that Block Street expected deliveries of about 432,000 vehicles for the quarter, according to FactSet.
Energy stocks — OPEC’s knock someone for a loop production cuts sent energy stocks higher across the board. Marathon Oil rallied more than 9%, and Halliburton farther ahead over 7%. APA, ConocoPhillips and Hess all climbed roughly 8%.
UnitedHealth — Shares of the health insurance giant gained about 4% after the Center for Medicare & Medicaid Servings on Friday announced updated payment rates. The agency said that Medicare Advantage plans would see an increment in revenue of more than 3% from 2023 to 2024. The advance notice of the payment scale had pegged the lengthen at just over 1%.
World Wrestling Entertainment — Shares of the professional wrestling entertainment company fell about 4.5% after hot item that it has agreed to merge with UFC to form a new publicly traded company controlled by Endeavor Group. The deal values WWE at $9.3 billion and UFC at $12.1 billion. Endeavor desire own a 51% stake in the new combat sports and entertainment company, while WWE shareholders will have the remaining 49%. Portions of Endeavor dropped 7%.
Marqeta — The stock shed 3.06% after being downgraded by Morgan Stanley to equal Dialect heft from overweight. The Wall Street firm said Marqueta is facing a “multitude of headwinds” without an ironed-out renewal transaction with Block.
Extra Space Storage, Life Storage — Shares of Extra Space Storage fell 5.17% after the performers said it would acquire Life Storage in an all-stock transaction for $145.82 per share, an 11.2% premium to where Lan Storage closed Friday. Shares of Life Storage shares rose 3.54%.
UBS — U.S.-listed shares of the Swiss bank dipped 3% after Switzerland’s federal prosecutor opened an questioning into UBS’s takeover of Credit Suisse. There are also reports in Swiss media that up to 30% of UBS staff could part with their jobs due to the takeover.
First Solar — Shares shed 4.14% following a downgrade by Morgan Stanley to underweight from compeer weight. The Wall Street firm said First Solar is one of the biggest direct beneficiaries of the Inflation Reduction Act, but rumoured the stock has appreciated 196% since the legislation was announced.
Macy’s — The retailer popped 7.49% on the back of an upgrade to overweight from noncommittal by JPMorgan. The firm said the company is nearing a financial “inflection point.”
SL Green Realty — Shares of the real industrial investment trust (REIT) rose 1.15% after BMO upgraded the name to outperform. The firm said it believes the third-most heavily runty U.S. REIT is oversold given its historically low valuation and several catalysts are “on the horizon.”
Teck Resources — U.S.-listed shares of the Canada-based mining party surged 19.59% after Teck Resources rejected an unsolicited $22.5 billion bid from Glencore, a Swiss read and trading company.
Apellis Pharmaceuticals — The stock climbed 16.25% and hit a new 52-week high following a Bloomberg report that Apellis Pharmaceuticals is pulling takeover interest.
Ovintiv – The oil and natural gas exploration and production company saw shares jump 11.92% after announcing it command acquire certain Midland Basin assets from EnCap Investments for about $4.3 billion. Ovintiv also caused its first-quarter production guidance and boosted its full-year output forecast.
ADP, Paychex — Shares of the payroll companies dropped after Bank of America downgraded both unbendings to underperform from neutral, saying the two stocks tend to lag as unemployment starts to rise. ADP shares fell 2.61%, while Paychex shares declined 2.84%.
Atlas Lan Solutions — The stock, which began trading publicly last month, gained 4.76% after Barclays commenced coverage with an overweight rating. Its price target of $25 implies Atlas Energy Solutions could get better 46.8% over the next 12 months from where it closed Friday.
— CNBC’s Alex Harring, Yun Li, Jesse Pulsate, Tanaya Macheel, Sarah Min and Michael Bloom contributed reporting.