Stock Markets Are Moving the Most Today: Tesla, Apple, Snap, Lordstown, Ciena, and More

Tesla Stock Markets, TSLA –1.39% (ticker: TSLA) fell 2.1% after the electric-vehicle company cut prices on its Model S and Model X cars in the U.S.

Tesla’s website shows that the vasic Model S is now $89,9990 after a $50,000 price drop.

$99,990 is now the base price for the Model X SUV, down $10,000 from its previous price

Apple AAPL +2.24% (AAPL) gained 2.5% to $155.78 after Goldman Sachs analyst Michael Ng initiated coverage on shares of the iPhone maker with a Buy rating and price target of $199.

BridgeBio Pharma (BBIO) soared about 57% after the biopharmaceutical company reported “positive results from PROPEL2, a Phase 2 trial of the investigational therapy infigratinib in children with achondroplasia.” BioMarin (BMRN), which has a competing drug, fell 6.7%.

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Shares of Snap (SNAP), parent company of Snapchat SNAP +12.54% , rose nearly 11% as lawmakers pushed for a ban on rival TikTok.

Also, Lordstown Motors RIDE –8.48% (RIDE) fell 8.9% after the electric vehicle start-up posted a wider-than-expected fourth-quarter loss and a huge sales miss.

Ciena Corporation (CIEN) stock rose 5% after it reported first-quarter revenue and earnings that beat.

Lumen Technologies (LUMN), the telecommunications company, was the top-performing stock in the S&P 500 on Monday, rising 4.3%, while medical devices company DexCom (DXCM) was the leading decliner, falling 8.4%.

As Well, Silvergate Capital (SI) rose 3% after analysts at Wedbush downgraded the cryptocurrencies banker from Neutral to Underperform

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Shares of railroad stock Norfolk Southern (NSC) slipped 2% after a second train derailed in Ohio over the weekend, this time with no hazardous materials on board, reports said. A train carrying dangerous chemicals derailed in early February in East Palestine, Ohio.

Shares of KB Home (KBH) fell 1.8% after J.P Morgan downgraded the Stock Markets from Overweight to Underweight and lowered the price target to $32.50

In conclusion, Altria (MO), the Marlboro cigarettes maker, announced Monday it would acquire NJOY Holdings, an e-cigarette maker, in a deal valued at about $2.75 billion in cash. Shares of Altria rose 1%.

After analysts at J.P Morgan upgrated Vir Biotechnology (VIR) from Neutral to Overweight, the stock jumped 0.8%