Tesla, Pfizer, Lyft: what to watch on the stock market today
US stocks opened with muted moves after all three major indices closed at record highs. Meanwhile, the Federal Reserve is set to begin its two-day policy meeting amid rising inflation fears. Here are the stocks we are monitoring in Tuesday’s session.
- Tesla shares tumbled as trade opened after CEO Elon Musk tweeted that an agreement for Hertz to buy Tesla vehicles has not yet been signed. It also recalled 11,000 vehicles due to a software issue.
- Commercial real estate firm Simon Property Group has raised its projections for the year as the company expects buyers to keep returning to its malls.
- Car rental company Avis Budget Group said its profits and revenue increased for the third quarter as revenue per day and rental days increased and demand continued.
- McKesson posted higher adjusted earnings per share than analysts expected, thanks to profits from the company’s government contract for the distribution of Covid-19 vaccines.
- Drugmaker Pfizer posted adjusted third-quarter profit higher than analyst estimates and raised its guidance for fiscal 2021.
- EstÃ©e Lauder, which makes skin and hair care products, makeup and fragrances, presented an unfavorable outlook as inflation, supply chain disruptions and Covid-19 restrictions are expected to end. to chase.
- Rogers shares rose 30% after the market opened, after the engineering materials company agreed to be acquired by DuPont for around $ 5.2 billion.
- DuPont reported better than expected third quarter results, downgraded its outlook for the full year and confirmed that it has agreed to acquire Rogers, as part of a business transformation.
- Under Armor reported sales and profits in the third quarter that exceeded Wall Street expectations.
- T-Mobile US, Mondelez International and Lyft will release their results after market close.
Card of the day
- Federal Reserve Chairman Jerome Powell used the gist of a much-anticipated speech in late August to explain why he still believes this year’s surge in inflation will be temporary. His words have not aged well.
Write to Caitlin Ostroff at [email protected]