A Tesla charging station in a car showroom in the morning light. The expansion of charging infrastructure has not yet progressed as expected.
Jan Woitas | Picture Alliance | Getty Images
Check out the companies in the spotlight on the midday deal.
Tesla – Tesla shares fell 13% after the company announced fourth-quarter vehicle deliveries that fell short of Wall Street expectations. The electric automaker sold 405,278 cars in the fourth quarter, according to FactSet, while the median analyst estimate was around 427,000.
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Wynn Resorts – Wynn Resorts shares rose more than 2% after Wells Fargo upgraded its hotel and casino operator, saying there was a significant reopening opportunity, citing China’s move toward a full reopening. Cole gave a boost to Las Vegas Sandswhich also added about 3%. MGM Resorts 1% extra.
Trager — The wood pellet grill maker fell 8.3% after RBC downgraded its stock from sector performance to outperform. The company said it believed in Trager’s long-term positioning within outdoor cooking spaces, but said the recovery was likely to be delayed.
Molina Healthcare — Healthcare companies fell nearly 5% even though the company expects revenues from California Medicaid to double under the revised contract.
Linde — Stocks fell 3% after a Reuters report that Russia had frozen nearly $500 million in German gas company assets. Linde suspended work on a contract with a Russian company after the European Union imposed sanctions following Ukraine’s aggression.
T-mobile — Shares fell 1.7% after Wolff’s downgrade from perform to peer perform. The company said T-Mobile was “still a great story,” but cited slowing growth in the telecommunications sector.
PayPal – Shares rose 4.1% after Trust upgraded PayPal to buy from hold.
block – The block rose a whopping 7.4% after Baird upgraded the stock from Neutral to Outperforming. The company said its share price is expected to recover and should benefit from macro trends such as rising interest rates.
Amazon — The stock surged 1% after Loop named the e-commerce giant its top idea for 2023.
Coty — Shares of the beauty company rose 1.4% after Piper Sandler upgraded from Neutral to Overweight. Among the catalysts is Coty’s increased exposure to China, which should provide tailwinds for the recovery, the company said.
city group — Bank shares rose 1.4% after Bank of America repeated as a buy. The firm said the stock has “interesting” risks and rewards for investors looking for “restructuring stories.”
Molson Coors Beverage — Shares fell more than 3% after Wells Fargo downgraded Molson Coors Beverage from equal to underweight, leaving the beverage and brewing company with a “significant downside to street estimates in 2023.” said that there is
CVS — Stocks fell 1%. Evercore downgraded from Outperform to Inline due to valuation.
— CNBC’s Samantha Subin, Carmen Reinicke, Michelle Fox, Jesse Pound, Sarah Min, and Tanaya Macheel contributed to the report
