Welcome to Extreme Investor Network, where we bring you the latest updates on companies making headlines in the finance world. Today, we dive into the midday trading scene and analyze the top movers in the market.
First up, we have First Solar, which experienced a 9.3% dip after Jefferies cut its price target on the stock. The firm expects First Solar’s upcoming third-quarter report to fall short of expectations due to ongoing challenges such as supply chain issues and labor shortages. On the flip side, Enphase Energy, a solar systems maker, also saw a 5.8% decline.
Meanwhile, Toronto-Dominion Bank shares took a hit, dropping 5.3% following reports that the Canadian bank is set to pay hefty penalties and face business limitations as part of a settlement over money laundering charges. On a more positive note, GXO Logistics saw a 14.1% spike in its stock price after rumors of a potential sale surfaced.
Energy drink maker Celsius Holdings had a strong day, with a 14.4% surge fueled by positive feedback from research firms. Stifel and Piper Sandler both praised the company’s performance and outlook. As we look ahead, all eyes are on Tesla, which is gearing up for its robotaxi event. Investors are eager to hear about the new Cybercab prototype and advancements in AI technology.
Moving on, American International Group received an upgrade from JPMorgan, boosting its stock by 1.2%. Similarly, CVS Health saw a 1.3% increase after an upgrade from Barclays highlighting margin recovery opportunities. However, not all stocks fared well today, as 10x Genomics experienced a significant 24.7% drop in its stock price due to lower-than-expected third-quarter revenue.
Lastly, PayPal faced a 3.3% decrease following a downgrade from Bernstein. The analysts pointed out uncertainties in the stock’s upside potential after a recent rally and potential competition in the peer-to-peer payments sector.
Stay tuned to Extreme Investor Network for more insights and analysis on the dynamic world of finance. Our team of experts is dedicated to keeping you informed and empowered to make strategic investment decisions.