24H|Okta Shares Jumped 5%; Wolfspeed Jumped 4%; Tesla Rose 0.6%; NXP Tumbled More Than 7%

Tiger Newspress
29 Apr

NXP Semiconductors tumbled more than 7% in overnight trading. The company announced a new chief executive officer as part of its quarterly earnings report and warned that the chipmaker was navigating “a very uncertain environment” due to tariffs.

Tesla rose 0.6% in overnight trading after five days winning streak. Shares of the electric-vehicle maker closed above their 50-day moving average on Friday. Tesla reported earnings on Tuesday evening, and despite a disappointing first-quarter print, the stock rose after CEO Elon Musk said he would spend less time in Washington, D.C., and more time at Tesla headquarters. A positive reaction to earnings has brought $300 into play, said ChartSmarter founder and market technician Douglas Busch, who sees a "decent chance" the stock can rise as high as $360.

Wolfspeed stock jumped 4% in overnight trading after surging 26% on Monday. Stocks in the semiconductor industry have seen a heightened level of short interest, according to Raymond James. Analysts with the firm noted that Wolfspeed topped the list of stocks with the largest short-interest ratio, at 41%.

Okta Inc. will replace Berry Global Group Inc. (NYSE: BERY) in the S&P MidCap 400 effective prior to the opening of trading on Thursday, May 1. S&P 500 constituent Amcor plc (NYSE: AMCR) is acquiring Berry Global Group in a deal expected to close soon, pending final closing conditions. Okta shares jumped 5% in overnight trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10