Tesla, Twitter – The electric vehicle manufacturer lost 1.5% after CEO Elon Musk reversed course on his Twitter purchase, proposing to acquire the social media company again for $54.20 per share. He had previously tried to backtrack from buying the firm, but Twitter sued him to go through with the deal. Twitter shares fell slightly after adding 22% on the news Tuesday.
Automakers – Ford added1.5% after Morgan Stanley upgraded the stock to overweight from equal weight, citing a potential buying opportunity after the stock’s recent decline. General Motors, meanwhile, shed 1.8% after the company lowered its price target on the stock.
Morgan Stanley, Goldman Sachs – Shares of the two banks fell 1.4% and 1.6%, respectively, after Atlantic Equities downgraded both stocks due to the potential of declining investment banking volume.
Airbnb – The online travel platform was up 0.8%, outperforming the broader market after Bernstein initiated coverage of the stock with an outperform rating and a price target that implies an upside of about 30% from Tuesday’s close.
