{"id":48269,"date":"2023-08-14T14:30:40","date_gmt":"2023-08-14T18:30:40","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/u-s-steel-hawaiian-electric-tesla-amc-oddity-nvidia-and-more-market-movers\/"},"modified":"2023-08-14T14:30:43","modified_gmt":"2023-08-14T18:30:43","slug":"u-s-steel-hawaiian-electric-tesla-amc-oddity-nvidia-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48269","title":{"rendered":"U.S. Steel, Hawaiian Electric, Tesla, AMC, Oddity, Nvidia, and More Market Movers"},"content":{"rendered":"
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Stocks traded higher Monday\u00a0as markets have stumbled to add to this year\u2019s rally during August. The focus for Wall Street this week will be on minutes of the Federal Reserve\u2019s latest policy meeting and earnings reports from some of the biggest U.S. retailers.<\/p>\n

These stocks were making moves Monday:\u00a0<\/p>\n

\n

\n U.S. Steel
\n (X) rejected an unsolicited buyout offer from rival\u00a0
\n Cleveland-Cliffs
\n (CLF) that would have valued
\n U.S. Steel
\n at about $7.3 billion. The board of U.S. Steel called the proposal \u201cunreasonable.\u201d
\n Cleveland-Cliffs
\n said the implied value of the offer was $35 a share.\u00a0U.S. Steel closed Friday at $22.72 and was rising 33% to $30.15 on Monday. Cleveland-Cliffs shares rose 10%.<\/p>\n

\n Hawaiian Electric Industries
\n (HE) was falling 38% to $20.09 after analysts at Wells Fargo reduced the price target on the stock to $25 from $35, citing the risk from the Maui wildfires. \u00a0<\/p>\n

\n Tesla
\n (TSLA) declined 1.6% after cutting prices in China on two versions of its Model Y sedan. The price of a long-range Model Y was cut by 14,000 yuan, to 299,900 yuan, and the performance version also was reduced by 14,000 yuanto 349,900 yuan.\u00a0
\n Tesla
\n also rolled out an incentive of 8,000 yuan, or about $1,100, for certain Model 3 sedans in China. The price cuts will lead to more questions about\u00a0price wars\u00a0and demand for electric vehicles in the world\u2019s largest market for new cars. U.S.-listed shares of Chinese electric-vehicle makers also declined.
\n NIO
\n (
\n NIO
\n ) fell 3.8%,
\n XPeng
\n (XPEV) slipped 0.2%, and
\n Li Auto
\n (LI) dropped 2.6%.<\/p>\n

\n AMC Entertainment
\n (AMC) shares fell 34% after the movie-theater chain won approval\u00a0to move ahead with a planned conversion of AMC Preferred Equity, or APE, units into common shares. APE units were up 17%. AMC has sought to convert its preferred equity units, known as Apes, into common shares and enact a 10-for-1 reverse stock split to raise capital. <\/p>\n

\n Nikola
\n (NKLA) was falling 5.2% after announcing it would be recalling about 209 of its Class 8 Tre battery-electric vehicles after a third-party investigator found that a defective battery part likely caused a fire in one of the trucks at the company\u2019s headquarters in Phoenix.<\/p>\n

\n Oddity Tech
\n (ODD) was down 11% after analysts initiated coverage on shares of the beauty-products company. The consensus on Wall Street is that while Oddity has good prospects, recent increases in the share price limit the potential for short-term gains.\u00a0<\/p>\n

\n Monday.com
\n (MNDY) rose 9.5% after second-quarter earnings topped analysts\u2019 estimates and the communications software company raised revenue guidance.<\/p>\n

\n Nvidia
\n (NVDA) was gaining 6.4% after the graphics chip maker was named a top pick by analysts at Morgan Stanley heading into earnings.<\/p>\n

\n PayPal
\n (PYPL) was up 2.2% after naming
\n Intuit
\n executive Alex Chriss as president and CEO of the digital payments company.
\n Intuit
\n (INTU) rose 1.5%.<\/p>\n

\n Okta
\n \u00a0(OKTA) was rising 2.2% to $72.94 after shares of the identity-management software provider were upgraded to Buy from Sell at
\n Goldman Sachs
\n and the price target was raised to $91 from $77.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks traded higher Monday\u00a0as markets have stumbled to add to this year\u2019s rally during August. The focus for Wall Street this week will be on minutes of the Federal Reserve\u2019s latest policy meeting and earnings reports from some of the biggest U.S. retailers. These stocks were making moves Monday:\u00a0 U.S. Steel (X) rejected an unsolicited […]<\/p>\n","protected":false},"author":1,"featured_media":48144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-48269","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nU.S. Steel, Hawaiian Electric, Tesla, AMC, Oddity, Nvidia, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks traded higher Monday\u00a0as markets have stumbled to add to this year\u2019s rally during August. 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