Check out the companies that are trending in intraday trading. Tesla — Shares fell 2.8% after an internal memo was released saying the electric car maker plans to lay off more than 10% of its global workforce. “As we prepare the company for its next phase of growth, it is critical that we look at all aspects of the company to reduce costs and increase productivity,” CEO Elon Musk said in the memo. said. Tesla had approximately 141,000 employees as of December 2023. Goldman Sachs — Shares rose 3.4% after the investment bank beat Wall Street’s first-quarter profit estimates, reporting a rebound that pushed profits up 28% from a year earlier to $4.13 billion. In capital market activities. Goldman posted earnings of $11.58 per share on revenue of $14.21 billion in the period, while analysts surveyed by LSEG expected earnings of $8.56 on revenue of $12.92 billion. was. Logitech — Shares fell 6.4% after Morgan Stanley downgraded the computer peripherals stock to underweight, saying the market was “mispricing” the company’s “future growth algorithms.” Analyst Eric Woodring expects annual sales growth of just 3% through fiscal 2027, below consensus. Salesforce — Customer relationship management software stocks fell more than 5% after the Wall Street Journal reported that the company is in talks to acquire data management software provider Informatica. It was the biggest loser on the blue-chip Dow Jones Industrial Average. Masimo — The stock rose 1.6% after being upgraded from Hold to Buy by Stifel. The company expects the medical technology company to return to its low-single-digit growth and steadily expand margins. Reddit — The stock price fell more than 5% after Wall Street firms began covering the stock after it went public last month. Morgan Stanley said the shares were already trading at fair value and initiated coverage of social media platforms with equal weight. JPMorgan and Goldman Sachs each gave Reddit a neutral rating. Others took a more bullish view of the stock. Deutsche Bank called Reddit a buy, and Raymond James called the social media stock a strong buy. Medical Properties Trust — Shares soared nearly 20% after the real estate investment trust announced it would sell majority interests in its five hospitals in Utah to a new joint venture for a total of $886 million. Trump Media & Technology Group — Trump Media’s stock price fell more than 15% after the company filed to issue up to 21.5 million shares. Since the company behind the Truth Social app began trading on March 26, its stock price has fallen more than 62%, from an opening price of nearly $71 to about $27 on Monday. Coupang — The South Korea-based e-commerce company rose 3.6% after Citi upgraded its stock to buy from neutral. The bank believes there is still room for Coupang to expand its margins by raising subscription prices, and expects little customer pushback due to its strong delivery service. Snap One, Resideo Technologies — Snap One stock rises 30% after the provider of smart living products announced it will be acquired by home automation company Resideo Technologies in a deal valued at approximately $1.4 billion ($10.75 per share in cash) did. Resideo fell 3.6%. Charles Schwab — The online brokerage and money management company rose 2.8% after mixed first-quarter results. Schwab reported earnings of 74 cents, in line with LSEG expectations, and revenue of $4.74 billion, slightly ahead of analysts’ consensus estimate of $4.71 billion. —CNBC’s Yun Li, Lisa Kai-Lai Han, Sarah Ming and Michelle Fox contributed reporting.
Stocks with the biggest price movements at midday: TSLA, GS, CRM
