Tesla, Moderna, Ulta Beauty, and More
Main points
- U.S. stocks were mostly lower at midday as fresh worries about inflation weighed on the technology sector.
- Tesla shares fell when the electric car maker came under investigation by federal safety regulators and was downgraded by Bank of America.
- Getty Images and Shutterstock announce merger.
U.S. stocks were mostly lower at midday as a new report on the services sector raised a red flag about inflation. this Nasdaq down 1.2%, S&P 500 Index Also fell. this Dow Jones Industrial Average Prices move higher.
Tesla (TeslaThe company’s stock price fell as federal regulators began investigating crashes that may be related to the electric vehicle (EV) maker’s “actual Smart Summon” feature. Additionally, Bank of America downgraded the stock due to concerns about its high valuation and strategy.
Palantir Technologies stock (PLTRThe stock fell for a second straight session after Morgan Stanley warned that shares were too high.
MetaPlatform (MehtaThe company’s shares fell when the social media giant said it would abandon its third-party fact-checking system and follow the model used by rival X. Elon Musk.
modern (messenger RNA) was the best-performing stock on the S&P 500 as the vaccine maker’s experimental vaccine against bird flu was expected to be in demand after the first human death from the disease was reported in the United States.
Getty Images Holdings Inc.’s stock (tide) and Shutterstock (SSTKWhen stock photo and video providers said they would merge and create a company with enterprise value $3.7 billion.
ultimate beauty (ULTAShares rose when the beauty products maker raised guidance for strong holiday sales and announced that Chief Operating Officer Kecia Steelman would become its new CEO, replacing Dave Kimbell, who is retiring.
Oil and gold futures rose. The 10-year Treasury yield rose. The dollar was higher against the euro, pound and yen. Prices for most major cryptocurrencies fell.