Midday movers: Tesla, BioNTech, Berkshire Hathaway and more
Investing.com -- U.S. stocks were wobbling on Monday, giving up earlier gains after last week's rally as investors more quarterly corporate earnings.
Here are some of the biggest U.S. stock movers today:
Tesla (NASDAQ:TSLA) stock fell 1.7% after Reuters reported that the electric vehicle manufacturer plans to build a €25,000 (€1 = $1.0753) car at its factory near Berlin, in an attempt to enter the mass market.
BioNTech (NASDAQ:BNTX) stock rose 4.7% after the drugmaker cut its 2023 revenue target on lower demand for the COVID-19 vaccine made with Pfizer (NYSE:PFE) but said the impact from write-downs at its U.S. partner was less than initially thought. Pfizer was down 0.8%.
Berkshire Hathaway (NYSE:BRKa) stock fell 1.6% after Warren Buffet’s holding company reported a record high cash pile of $157 billion in the third quarter, in a sign that the group is cautiously gauging stock valuations and the broader market environment during a time of high borrowing costs and political strife.
Dish Network (NASDAQ:DISH) stock fell 30.4% after the satellite television company reported a drop in third-quarter revenue, swinging to a loss for its fiscal third quarter as its pay-TV subscribers declined.
Starbucks (NASDAQ:SBUX) stock rose 1.1% after the coffee chain announced plans to raise the hourly pay for its U.S. retail workers by at least 3% from 2024, as it plans to expand its store count amid strong demand for its coffees from younger and more affluent customer base.
Ryanair (NASDAQ:RYAAY) ADRs rose 3.4% after the low-cost carrier delivered a record annual profit forecast and outlined plans for its first-ever ordinary dividend.
OrganiGram (TSX:OGI) stock soared 19.4% after the Canadian cannabis company said it is set to receive a hefty investment from British American Tobacco (NYSE:BTI).
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