Stocks making the biggest midday moves: Tesla, Polestar, Paramount Global and more

by | Jul 2, 2024 | Financial

Check out the companies making headlines in midday trading: Tesla — Tesla surged nearly 9% after the electric vehicle company reported stronger-than-expected second-quarter deliveries. The Elon Musk-led company delivered 443,956 vehicles, while analysts polled by StreetAccount expected deliveries of 439,000. The figure showed a 4.8% decline from a year ago but was 14.8% above first-quarter numbers. Polestar — The EV manufacturer tumbled 7% after its first-quarter loss widened to $274.3 million from $37.7 million a year ago. Polestar reported an 80% increase in car deliveries in the second quarter of 2024 compared to the first. Paramount Global — Shares of the owner of CBS and MTV rose 3% after CNBC reported that it was in talks with several companies concerning a potential merger of its Paramount+ streaming service. Warner Bros. Discovery is one of the companies that has expressed interest in reaching a deal that would combine Paramount+ with Max, according to people familiar with the matter. Warner Bros. Discovery rose about 1.4%. Pure Storage — The data storage stock tumbled 5.4% on the back of a UBS downgrade to sell from neutral. UBS said the company has an unfavorable risk-to-reward ratio. Eli Lilly , Novo Nordisk — Eli Lilly and Novo Nordisk both shed about 2% after President Joe Biden and Sen. Bernie Sanders said the drugmakers were charging “unconscionably hi …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading: Tesla — Tesla surged nearly 9% after the electric vehicle company reported stronger-than-expected second-quarter deliveries. The Elon Musk-led company delivered 443,956 vehicles, while analysts polled by StreetAccount expected deliveries of 439,000. The figure showed a 4.8% decline from a year ago but was 14.8% above first-quarter numbers. Polestar — The EV manufacturer tumbled 7% after its first-quarter loss widened to $274.3 million from $37.7 million a year ago. Polestar reported an 80% increase in car deliveries in the second quarter of 2024 compared to the first. Paramount Global — Shares of the owner of CBS and MTV rose 3% after CNBC reported that it was in talks with several companies concerning a potential merger of its Paramount+ streaming service. Warner Bros. Discovery is one of the companies that has expressed interest in reaching a deal that would combine Paramount+ with Max, according to people familiar with the matter. Warner Bros. Discovery rose about 1.4%. Pure Storage — The data storage stock tumbled 5.4% on the back of a UBS downgrade to sell from neutral. UBS said the company has an unfavorable risk-to-reward ratio. Eli Lilly , Novo Nordisk — Eli Lilly and Novo Nordisk both shed about 2% after President Joe Biden and Sen. Bernie Sanders said the drugmakers were charging “unconscionably hi …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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