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Midday movers: Norfolk Southern, Apple, Tesla and more

By Liz Moyer

Investing.com -- Stocks are rising on Monday ahead of testimony by Federal Reserve Chair Jerome Powell in Congress starting Tuesday. Here are the midday movers for March 6.

  • Norfolk Southern Corporation (NYSE:NSC) shares fell 1.8% after a second derailment over the weekend, also in Ohio, though this time there were no hazards, officials said. Safety regulators were heading to the site of the derailment, reports said.
  • Apple Inc (NASDAQ:AAPL) shares rose 3% after Goldman Sachs initiated the stock as a buy, citing recurring revenue from services and its installed customer base.

  • Tesla Inc (NASDAQ:TSLA) shares were down 2.4% after the electric vehicle maker cut prices for the second time this year. It is cutting prices for its Model S and Model X, its more expensive vehicles.

  • BridgeBio Pharma Inc (NASDAQ:BBIO) shares rose 57% after the pharmaceutical maker said it had positive results from a phase 2 trial of a drug to treat a type of Dwarfism.

  • Silvergate Capital Corp (NYSE:SI) shares were up 4% after the crypto bank ended its Silvergate Exchange Network, just days after it raised doubts about its ability to continue operations.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.