{"id":76134,"date":"2023-10-24T05:11:14","date_gmt":"2023-10-24T09:11:14","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/chevron-hess-tesla-fmc-okta-mgm-walgreens-and-more-stock-market-movers\/"},"modified":"2023-10-24T05:11:17","modified_gmt":"2023-10-24T09:11:17","slug":"chevron-hess-tesla-fmc-okta-mgm-walgreens-and-more-stock-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76134","title":{"rendered":"Chevron, Hess, Tesla, FMC, Okta, MGM, Walgreens, and More Stock Market Movers"},"content":{"rendered":"
\n
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<\/p>\n
<\/div>\n<\/figure><\/div>\n

Stocks were mixed Monday\u00a0as the yield on the 10-year U.S. Treasury note eased off 5%. Wall Street was gearing up the busiest week of the earnings season, including reports from some of the tech sector\u2019s biggest names such as
\n Microsoft,<\/span><\/p>\n

Alphabet,<\/span><\/p>\n

Amazon.com,<\/span>
\n and
\n Meta Platforms.<\/span>\n <\/p>\n

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

\n

\n Chevron
\n (CVX) reached a deal to buy
\n Hess
\n (HES) in all-stock deal valued at $53 billion, or $171 a share. The total enterprise value of the transaction, including debt, is $60 billion.
\n Chevron
\n shares fell 3.7%, while
\n Hess
\n dropped 1.1% to $161.30.<\/p>\n

\n Tesla
\n (TSLA) was flat. The electric-vehicle maker said capital spending on plants and equipment should exceed $9 billion in 2023, and average $7 billion to $9 billion a year in 2024 and 2025. Wall Street has been modeling just below $9 billion in 2023, but above $9 billion in 2024 and $10 billion in 2025.
\n Tesla
\n also said the Justice Department requested additional information, including subpoenas, from the company as it investigates Tesla\u2019s autopilot technology.<\/p>\n

\n FMC
\n (
\n FMC
\n ) dropped 13% and was the worst performer in the S&P 500 after the agricultural-sciences company said it was reducing third-quarter revenue guidance to $982 million, below analysts\u2019 estimates of just under $1.2 billion, \u201cprimarily due to lower volumes in Latin America as destocking was more severe than anticipated.\u201d FMC also cut its revenue outlook for the fourth quarter and fiscal year. <\/p>\n

\n Roche Holding
\n (RHHBY) agreed to buy Telavant Holdings, a developer of a drug for people suffering from inflammatory bowel disease, from\u00a0
\n Roivant Sciences
\n \u00a0(ROIV) and\u00a0
\n Pfizer
\n \u00a0(PFE) in a deal worth up to $7.25 billion. The acquisition will give Roche, the Swiss drugmaker, the right to develop, manufacture and commercialize drug candidate RVT-3101 in the U.S. and Japan.
\n Roivant Sciences
\n shares fell 11%.
\n Pfizer
\n shares rose 0.6%. <\/p>\n

\n Textainer Group Holdings
\n (TGH), a shipping-container lessor, agreed to be acquired by infrastructure investor Stonepeak for about $2.1 billion. Textainer shareholders will receive $50 a share in cash; the stock closed at $34.15 on Friday and surged 42% to $49.41 on Monday. The deal has an enterprise value of about $7.4 billion including Textainer\u2019s debt. <\/p>\n

\n Okta
\n (OKTA) fell 8% after slumping 12% on Friday following the company\u2019s disclosure that a hacker used a\u00a0<\/strong>stolen credential to access its support system. \u201cThe threat actor was able to view files uploaded by certain
\n Okta
\n customers as part of recent support cases,\u201d Okta\u2019s Chief Security Officer David Bradbury said in\u00a0an online post. Okta\u2019s support system is separate from the production Okta service, which hasn\u2019t been affected. All affected customers have been notified of the incident, the company said.<\/p>\n

\n MGM Resorts
\n (MGM) rose 3.9% and was the top performer in the S&P 500. Shares of the casino operator were initiated with a Buy recommendation at
\n HSBC.<\/span>\n <\/p>\n

\n Walgreens Boots Alliance
\n (WBA) rose 3.3% to $21.96. Shares of the drugstore chain were upgraded to Overweight from Neutral at
\n J.P. Morgan
\n and the price target was raised to $30 a share from $27.<\/p>\n

\n EngageSmart
\n (ESMT) reached a deal to be acquired by Vista Equity Partners for $23 a share of $4 billion.
\n EngageSmart
\n stock rose 12% to $22.60.<\/p>\n

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

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

Stocks were mixed Monday\u00a0as the yield on the 10-year U.S. Treasury note eased off 5%. Wall Street was gearing up the busiest week of the earnings season, including reports from some of the tech sector\u2019s biggest names such as Microsoft, Alphabet, Amazon.com, and Meta Platforms. These stocks made moves Monday:\u00a0 Chevron (CVX) reached a deal […]<\/p>\n","protected":false},"author":1,"featured_media":58045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-76134","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nChevron, Hess, Tesla, FMC, Okta, MGM, Walgreens, and More Stock Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks were mixed Monday\u00a0as the yield on the 10-year U.S. Treasury note eased off 5%. 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