Check out the companies making headlines in Monday’s trading.
Macy’s flagship store at Herald Square in New York, Dec. 23, 2021.
Scott Millin | cnbc
Colgate Palmolive- – Shares rose 2.8% after Morgan Stanley upgraded stock for more than equal weight and named it a top pick in the home and personal care industry. The firm said the stock was well priced after the recent selloff.
Tesla – Shares fell 2.8% after Berenberg lowered earnings estimates That’s after Tesla cut prices for its electric vehicles by nearly 25% for 2023. However, the firm upgraded the stock to buy from hold.
GE Healthcare Technologies — The stock rose 4% after the company reported its first earnings since being spun off from General Electric as a public company. GE Healthcare’s revenue came in at $4.9 billion, an increase of 8% year-over-year, and its fourth-quarter adjusted EPS was $1.31.
Ford Motor Company Shares fell about 1.4% after the company’s announcement cut prices For its electric Mustang Mach-E crossover. Ford’s move comes after Tesla said earlier this month that it would cut prices to counter declining demand.
Macy’s – Goldman Sachs said Macy’s is the best positioned retailer and started coverage With a buy rating. The stock climbed 1.8%.
amc entertainment — The theater chain’s common shares declined more than 7% after AMC announced a shareholder meeting in March to discuss possible changes to its capital structure. The shareholders at the special meeting will be permitted to vote on a reverse stock split to increase the total number of shares that can be issued by the company and to convert their preferred shares into common shares. Preferred or “APE” shares, which trade at a large discount to common shares, jumped more than 16%.
caravan Shares soared 28.5% as an apparent short squeeze boosted the beleaguered stock. Due to the rally, it was stopped for some time in the morning trade as well.
Moderna — The vaccine maker fell another 3.2%. The company’s share price has declined nearly 7% since last week after the Reuters report good said the European Union is in talks with Pfizer and BioNTech to reduce the number of doses of the COVID-19 vaccine it has committed to buying this year in exchange for paying a higher price per dose.
Advanced Micro Devices — Shares of semiconductor AMD fell 2.1% after many Wall Street analysts said they are concerned about the company’s upcoming earnings report after Intel destructive release, The company has to submit the report on Tuesday.
, of cnbc Hakyung Kim, Jessie Pound, Alex Haring, Carmen Reinicke, Michelle Fox Theobald and Samantha Subin contributed reporting.