Stocks making the biggest moves midday: Tesla, Marathon Oil, WWE, UnitedHealth and more
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Check out the companies making the biggest moves midday:
Tesla — Shares dropped 6% after the electric-vehicle maker reported total deliveries of 422,875 and total production of 440,808 for the first quarter of 2023. A mean of estimates showed that Wall Street expected deliveries of about 432,000 vehicles for the quarter, according to FactSet.
Energy stocks — OPEC's surprise production cuts sent energy stocks higher across the board. Marathon Oil rallied more than 9%, and Halliburton gained over 7%. APA, ConocoPhillips and Hess all climbed roughly 8%.
UnitedHealth — Shares of the health insurance giant gained about 4% after the Center for Medicare & Medicaid Services on Friday announced updated payment rates. The agency said that Medicare Advantage plans would see an increase in revenue of more than 3% from 2023 to 2024. The advance notice of the payment scale had pegged the increase at just over 1%.
World Wrestling Entertainment — Shares of the professional wrestling entertainment company fell about 4.5% after news that it has agreed to merge with UFC to form a new publicly traded company controlled by Endeavor Group. The deal values WWE at $9.3 billion and UFC at $12.1 billion. Endeavor will own a 51% stake in the new combat sports and entertainment company, while WWE shareholders will have the remaining 49%. Shares of Endeavor dropped 7%.
Marqeta — The stock shed 2.8% after being downgraded by Morgan Stanley to equal weight from overweight. The Wall Street firm said Marqueta is facing a «multitude of headwinds» without an ironed-out renewal deal with Block.
Extra Space Storage, Life Storage — Shares of Extra Space Storage fell 5% after the company said it would acquire Life Storage in an all-stock
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