Midday movers: Apple, Tesla and more
(Updated - January 2, 2024 12:13 PM EST)
Investing.com -- Main U.S. indexes traded lower Tuesday, with investors consolidating after a stellar year ahead of the release of key manufacturing activity data.
Here are some of the biggest U.S. stock movers today:
Tesla (NASDAQ:TSLA) stock climbed 0.3% after the electric car manufacturer said it delivered 484,507 units in the four quarter, above the analyst consensus of 483,173.
Apple (NASDAQ:AAPL) stock fell 3% after Barclays downgraded its rating on the iPhone manufacturer to ‘underweight’ from ‘equal weight’, expressing concerns about a prolonged period of weak results and the potential for multiple expansion not being sustainable.
Coinbase (NASDAQ:COIN) stock declined 5% despite the cryptocurrency exchange benefiting from the rise in bitcoin to a 21-month high on increased speculation that the U.S. SEC was close to approving a spot ETF for the world’s largest cryptocurrency.
Exxon Mobil (NYSE:XOM) stock rose 2.4% and Chevron (NYSE:CVX) rose 1% amid volatility in crude prices after a naval clash in the Red Sea raised the chances of Middle East supply disruptions.
Hasbro (NASDAQ:HAS) stock fell 0.1% after DA Davidson downgraded its stance on the toy manufacturer to ‘neutral’ from ‘buy’, pointing to management uncertainty over when the toy business will resume growth.
ASML (AS:ASML) ADRs fell 3.6% after the Dutch government blocked the chipmaker from exporting some of its tools to China.
Voyager Therapeutics (NASDAQ:VYGR) stock soared 23% following the news of a deal with Novartis (SIX:NOVN) that includes up to $1.2 billion in milestone payments.
Moderna (NASDAQ:MRNA) stock climbed 14% after its CEO said the company expects to see sales growth in 2025.
Rivian Automotive 's (NASDAQ:RIVN) stock fell 9% following the release of their latest quarterly production and delivery figures.
Additional reporting by Louis Juricic
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