Carnival Corporation shares drop despite the company's second quarter earnings report beating expectations. Tesla receives a downgrade from Goldman Sachs. Wolfspeed shares are on the rise after reaching a $2 billion debt deal with Apollo Global, which will help the company with its U.S. expansion.
Video Transcript
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DIANE KING HALL: It is just after 10:00 AM in New York City. This is Yahoo Finance's Live. I'm Diane King Hall alongside Julie Hyman. We're 30 minutes into trade. So let's get right to where markets are at the moment.
They are trading in a narrow range. And let's check carnival. Those share's under pressure this morning, down about 5%. So off of their lows despite reporting second quarter results that came in above expectations as the cruise operator saw a jump in demand, reaching an all time high for quarterly bookings.
JULIE HYMAN: We're also watching shares of Tesla. After Goldman Sachs became just the latest to hit the EV maker with the downgrade, cutting it to neutral from buy citing a difficult pricing environment that could weigh on the stock. Goldman joins Morgan Stanley and Barclays, who also downgraded Tesla last week.
DIANE KING HALL: Meantime, shares of Wolfspeed on the rides today after Apollo Global LED a $2 billion deal to help the semiconductor company expand in the US. Now, according to Bloomberg, Wolfspeed will be able to use one in a quarter billion dollars immediately if shares getting a bump up 6%
