Shares of the electric vehicle company soared 13.5% to lead the Nasdaq Composite higher after the firm beat fourth-quarter and full-year delivery expectations. Tesla delivered 308,600 electric vehicles in the fourth quarter of 2021, better than an estimate of 267,000. Deliveries are the closest approximation of sales reported by Tesla. Wells Fargo — Shares jumped 5.7% after Barclays upgraded the bank to … Read more
Whirlpool Corporation (WHR) shares jumped almost 3% Thursday after JPMorgan upgraded the stock from “neutral” to “overweight” and bumped its price target to $172 from $155. The investment bank noted that the home appliance giant currently trades at just 10 times and 8.5 times respective 2019 and 2020 earnings, representing discounts of roughly 10% to 15% to … Read more
Asian stocks had a muted start to trading Thursday as concern simmers about an escalation of trade tensions between the U.S. and China. Benchmarks edged higher in Japan, while South Korean shares were little changed. Australian stocks rose, cementing gains at an eight-year high. Futures in Hong Kong pointed to a muted opening. The Singapore-traded … Read more
Shares of Home Depot and Lowe’s were slammed Thursday, along with Whirlpool, after Amazon threatened to take on the appliance market in a much bigger way in a deal with Sears Holdings. The market cap loss in Home Depot, Lowe’s, Whirlpool and Best Buy was about $12.5 billion by the end of the day, after falling to more than $13 billion. Amazon stock was up … Read more