Check out the companies that are trending in intraday trading. Tesla, Li Auto — Following the price cut announcement, Tesla shares fell 3.4% to a 52-week low. The electric car maker has lowered the price of the Model 3 in China, in addition to price drops in other markets, according to Reuters. Chinese manufacturer Lee Auto also cut prices on many models, causing its stock price to fall by about 5.6%. Verizon Communications — The communications giant fell more than 4% after reporting mixed quarterly results. Verizon reported revenue of $33 billion, slightly lower than the $33.32 billion posted by analysts, according to FactSet. The company’s first-quarter earnings, excluding items, were $1.15 per share, beating analysts’ consensus estimates by 3 cents. Verizon also reaffirmed its full-year guidance on several measures. Paramount Global — The entertainment company’s Class B shares fell 0.5% Monday as investors continued to assess potential acquisitions. CNBC’s David Faber reported Monday that Paramount’s special committee has not yet heard about a potential offer from Sony. Informatica — The enterprise data management company fell 10.5% after acquisition talks with Salesforce fell apart. Salesforce stock rose 1.3%. Riot Platform — Bitcoin miner gained his 23.1% after “halving” event where Bitcoin mining rewards were halved. JPMorgan also reiterated its overweight rating on Riot late last week. In a note to customers, the company said it is confident Riot will continue to be a leader in Bitcoin. Crypto Stocks — In addition to Riot, several other Bitcoin-related stocks rode the halving. Coinbase rose 7%, while MicroStrategy rallied more than 12%. Cardinal Health — Shares fell 5% after the healthcare services and products company announced that UnitedHealth’s drug distribution agreement with OptumRx, which expires in June, will not be renewed. Sales to OptumRx generated his 16% of Cardinal Health’s consolidated revenue in fiscal 2023. However, the company reaffirmed his 2024 non-GAAP earnings per share outlook. Zions Bancorporation — He rose 3.5% after the regional bank reported better-than-expected earnings in the first quarter, according to FactSet. Net interest income and net interest margin also exceeded expectations. —CNBC’s Jesse Pound, Samantha Subin, Michelle Fox and Alexander Harring contributed reporting.
Stocks with the biggest price movements at noon: TSLA, VZ, PARA, COIN
