Midday movers: Tesla, Coinbase rise; Uber falls

(Updated - April 8, 2024 11:17 AM EDT)

Investing.com -- Main U.S. indexes started the new week on a positive note ahead of the release of key inflation data and the start of the new quarterly earnings season.

Here are some of the biggest U.S. stock movers today:

Boeing (NYSE:BA) stock rose 0.1% despite news that an engine cover on a Southwest Airlines (NYSE:LUV) aircraft – a Boeing 737-800 – fell off during takeoff in Denver and struck the wing flap, adding to the aircraft manufacturer’s recent malfunction issues. Southwest stock rose 1%.

Tesla (NASDAQ:TSLA) stock rose 5% after Elon Musk, CEO of the EV manufacturer, said, in a post on the social media platform X, the company will unveil Robotaxi near the start of August, opening up potentially more demand for its services. Shares of taxi service Uber (NYSE:UBER) declined 3%.

Taiwan Semiconductor Manufacturing (TSM) stock rose 2.5% after the U.S. Commerce Department said it would award the company's U.S. unit a $6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona.

Coinbase (NASDAQ:COIN) stock rose 6%, with the cryptocurrency exchange benefiting from Monday’s gains by Bitcoin, the world’s favorite digital currency.

Spirit Airlines (NYSE:SAVE) (SAVE) stock rose 4% after the low-cost carrier announced it has reached an agreement with Airbus to defer all aircraft orders scheduled to be delivered in the second quarter of 2025 through the end of 2026 to 2030-2031, as it looks to save cash.

United Airlines (UAL) stock rose 1.4% after the carrier postponed its investor day which was scheduled for early next month, amid a review by the U.S. Federal Aviation Administration following multiple safety incidents.

Ferrari (NYSE:RACE) stock rose 1.3% after CEO Benedetto Vigna said the Italian luxury car maker wants to increase its expertise in battery cells given their importance in its shift to electrified vehicles, but it has no plans to manufacture them itself.

Novo Nordisk (NYSE:NVO) stock rose 0.6% after the drug maker refiled an application to the U.S. Federal Trade Commission for the approval of a $16.5 billion deal to buy manufacturing subcontractor Catalent (NYSE:CTLT).

SoFi Technologies (NASDAQ:SOFI) climbed 3.3% after analysts at Citi resumed coverage on the stock with a 'buy' rating and a price target of $11.

Additional reporting by Louis Juricic

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% 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.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSP number 45784).

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: