Charter soars, Facebook falls on downgrade, Boeing eyes new high
Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Charter Communications (CHTR) shares soared on Monday after the telecommunications company said it has no interest in a merger with Sprint (S). The Wall Street Journal reported Sprint had proposed the deal, perhaps to give it more leverage in its talks with T-Mobile (TMUS). Meanwhile, Bloomberg is reporting that Japan’s SoftBank, which owns Sprint, plans to make a direct bid for Charter later this week.
US-listed shares of HSBC (HSBC) were higher in early trading. Europe’s largest bank reported better-than-expected earnings and revenue for the second quarter, with profits jumping 57% The UK lender also said it would buy back $2 billion worth of stock. That’s its third buyback this year.
Tesla (TSLA) shares were up slightly this morning. The electric car maker’s Model 3 debut was well received on Friday. An estimated 500,000 customers have already made reservations for the new car. Now, investors will be watching as Tesla aims to reach its lofty production goals especially, after Elon Musk said the Model 3 just entered “production hell.” Tesla is set to report quarterly results on Wednesday.
Facebook (FB) got a rare downgrade. Pivotal Research reduced its rating on the stock to sell from hold. The firm is concerned about the dramatic rise in Facebook’s stock over the past year even as growth risks have increased.
Boeing (BA) is forecasting record orders from India over the next 20 years. The Dow component said it expects airlines in the country to order up to 2,100 new aircraft worth $290 billion.
