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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

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