Top Stock Movers – Tesla, Nvidia Salesforce and More

Takeaways

• U.S. equities fell at midday after President Donald Trump continued criticizing Federal Reserve Chair Jerome Powell. There were no announcements regarding changes to U.S. tariff policy.
• Tesla bull Dan Ives warned the EV maker faced a "code red situation" if CEO Elon Musk didn't refocus on leading the company.
• U.S. banking regulators approved the $35.3 billion acquisition of Discover Financial by Capital One.

U.S. equity prices fell at midday on Monday after President Donald Trump once again criticized Federal Reserve chair Jerome Powell for his leadership of the central banks. There was little news regarding a potential easing of U.S. trade tariffs. The Dow Jones Industrial Average, S&P 500, and Nasdaq all fell at least 2.7%.

Tesla (TSLA) shares slumped when longtime bull Dan Ives of Wedbush Securities said the electric vehicle (EV) maker was facing a “code red situation” unless CEO Elon Musk backed away from his work in the Trump administration and refocused his attention on Tesla.

Shares of Nvidia (NVDA) continued their losing ways on worries the Trump tariffs on China will significantly impact the artificial intelligence (AI) chipmaker’s results. 

Salesforce (CRM), shares fell after DA Davidson reduced the stock. They argued the business cloud platform was neglecting core business in order to pursue AI.

When U.S. regulators approved Capital One Financial’s purchase of Discover Financial Services for $35.3 billion, shares of Discover Financial Services and Capital One Financial gained.

Fidelity National Information Services’ (FIS) shares rose after the fintech company agreed to an asset exchange with payment technology provider Global Payments. FIS acquired Global Payments’ issuer business and sold its Worldplay merchant service company. Global Payments shares dropped.

Netflix (NFLX), shares rose after several analysts raised their target prices following the streaming giant’s strong earnings report. 

Oil futures fell. Gold prices reached a new record high. The yield on 10-year Treasury notes was up. The U.S. Dollar lost ground against the euro, pound and yen. Most major cryptocurrencies were trading higher.