Budrul Cukrut | Light Rocket | Getty Images
Check out the companies that are trending in intraday trading.
lucid group — Lucid shares rose 9% after the electric carmaker announced it would supply powertrains and battery systems to British luxury car maker Aston Martin.
WSFSFinance — The regional bank added 4.4% after Davidson upgraded the stock to buy from neutral after he said WSFS could benefit from a prolonged high interest rate environment. The rise helped the SPDR S&P Regional Banking ETF (KRE), which traded 2% higher.
Pfizer — Pfizer fell 4.5% after it announced it was halting development of its experimental obesity and diabetes drug rotigliprone, citing elevated liver enzymes that could indicate liver damage. Pfizer said no participants reported symptoms or side effects.
carnival — Stocks fell nearly 12%, even as the cruise company reported smaller-than-expected second-quarter losses and brighter outlook. Shares have surged more than 70% since the start of the year as the industry recovers from the COVID-19 pandemic. Royal Caribbean and Norwegian Cruise Line also fell on Monday, dropping about 3% and 6% respectively.
Moderna — Moderna rose 2.5% in intraday trading. UBS upgraded the pharmaceutical stock to buy from neutral, saying investors were not fully aware of the potential of its other vaccines.
alphabet — Alphabet shares fell 1.8% after UBS downgraded the tech giant from buy to neutral. UBS said Alphabet’s upside is limited from here and the move to artificial intelligence could weigh on earnings in the short term.
Tesla — EV makers fell 2.8% after Goldman Sachs downgraded Tesla from buy to neutral. Wall Street banks downgraded Tesla after the recent rally in its stock price and the competitive environment for electric vehicles. The downgrade follows similar recent rating changes by Morgan Stanley and Barclays.
— CNBC’s Michelle Fox, Alex Harring and Jesse Pound contributed coverage.