Elon Musk, founding father of SpaceX and chief govt officer of Tesla Inc., arrives at the Axel Springer Award ceremony in Berlin, Germany, on Tuesday, Dec. 1, 2020.
Liesa Johannssen-Koppitz | Bloomberg | Getty Images
Check out the corporations making headlines noon Monday:
Quantumscape — Shares of the battery firm slid more than 37% as buyers took income in the newly public firm. Over the final week, shares are down 53%. The firm, which is backed by Bill Gates’ Breakthrough Energy, went public in November by way of a particular objective acquisition firm.
Tesla — The electrical car firm jumped more than 3% to a brand new all-time excessive after Tesla stated it delivered a file variety of automobiles throughout the fourth quarter. The inventory is coming off a banner yr, which noticed shares acquire more than 700%.
Boeing — The aerospace big’s inventory fell almost 4% after funding agency Bernstein downgraded the inventory to underperform from market carry out. The agency stated in a word that the firm nonetheless faces a protracted restoration even after the return of the 737 Max.
Herbalife — Shares of the vitamin firm gained more than 2% after Herbalife introduced that it was shopping for again roughly $600 million of its inventory from activist investor Carl Icahn. The activist’s representatives on the board of administrators are stepping down, although Icahn stated in a press release he’ll stay a shareholder in the firm.
Magellan Health — The inventory rose more than 12% on information the firm is being acquired by Celgene for $2.2 billion, or $95 per share. That value represents a 14.7% premium to Thursday’s shut of $82.84 per share. The deal is predicted to shut in the second half of the yr.
McDonald’s — Shares of the quick meals chain dipped almost 3% after Citi initiated McDonald’s with a impartial ranking. The Wall Street agency stated it’s involved the burger joint will expertise a “slower restoration in its worldwide markets.”
Workhorse Group — The electrical car maker noticed its inventory rise more than 4% after receiving an order for six,320 automobiles from Pride Group.
Vodafone — U.S.-listed shares rose 2.5% after the firm struck a take care of Discovery to incorporate the discovery+ streaming service in the telecom firm’s present Vodafone TV platform.
China Telecom, China Mobile — China Telecom and China Mobile dropped 7% and 6%, respectively, after the New York Stock Exchange stated it can delist the Chinese telecom giants beginning Jan. 11. The transfer is to adjust to an govt order signed by President Donald Trump in November that barred Americans from investing in corporations allegedly linked to the Chinese navy.
Estee Lauder — The cosmetics firm misplaced 3.8% after Raymond James downgraded Estee Lauder to market carry out from outperform. The agency stated Estee Lauder’s close to 30% rally in 2020 is inflicting buyers to look previous the near-term headwinds offered by the pandemic.
—CNBC’s Pippa Stevens, Yun Li, Maggie Fitzgerald and Jesse Pound contributed to this report.