Tesla Motors CEO Elon Musk unveils a brand new all-wheel-drive model of the Mannequin S automobile in Hawthorne, California October 9, 2014.
Lucy Nicholson | Reuters
Try the businesses making headlines in noon buying and selling.
Tesla — Shares of the electrical carmaker popped 1.6% after an SEC submitting confirmed Tesla bought $1.5 billion worth of bitcoin. The corporate mentioned it purchased the bitcoin for “extra flexibility to additional diversify and maximize returns on our money,” in response to the submitting. Tesla additionally mentioned it could begin accepting funds in bitcoin in trade for its merchandise as effectively.
Palantir Technologies — Shares of the large information firm rose greater than 8% after it introduced a brand new international partnership with IBM that can develop Palantir’s gross sales attain. The deal will even increase IBM’s synthetic intelligence choices and make them simpler to make use of. Palantir noticed its shares greater than quadruple since its September public market debut.
Hasbro – Shares of the toy maker slid about 3% regardless of the corporate beating prime and backside line estimates throughout the fourth quarter. Hasbro earned $1.27 per share on an adjusted foundation, and reported $1.72 billion in income. Analysts surveyed by Refinitiv had been anticipating earnings of $1.14 per share and $1.69 billion in income.
Energizer — Shares of the battery maker jumped greater than 4% after beating the highest and backside strains of its quarterly earnings. Energizer earned $1.17 per share on income of $849 million. Wall Road anticipated earnings of 89 cents per share on income of $790 million, in response to Refinitiv.
Target – Shares of the retailer superior about 2% after Stifel upgraded the inventory to a purchase score. “Our optimistic stance displays our view that share features lately throughout most classes, particularly digital (~18% of F2020 gross sales) proceed,” the agency wrote in a observe to shoppers. Stifel additionally lifted its goal on the inventory to $225 from $200, with the brand new goal indicating a 19% rally from the place shares closed on Friday.
Exxon Mobil — Shares of the oil and gasoline firm jumped 3.5% after BNP Paribas upgraded the inventory to impartial from underperform. The Wall Road agency cited Exxon Mobil’s plans to chop fossil gasoline capex. The inventory has risen 25% in 2021 after shedding greater than 40% final yr.
Hershey – Shares of Hershey rose almost 1.2% in noon buying and selling after the chocolate firm mentioned it noticed larger revenue and income within the fourth quarter from a yr earlier as clients purchased treats even amid the pandemic. CEO Michele Buck added that the corporate is poised for a robust Valentine’s Day and Easter seasons.
Westport Fuel Systems – Westport Gasoline soared greater than 39% in noon buying and selling following information that Amazon has ordered about 1,000 truck engines that run on compressed pure gasoline for its fleet of supply automobiles. The engines are a three way partnership between Vancouver-based Westport and Cummins.
— with reporting from CNBC’s Yun Li, Pippa Stevens and Tom Franck.