Midday movers: Tesla, U.S. Steel, AMC Entertainment and more

Investing.com -- U.S. stocks were mixed on Monday as investors await earnings reports from major retailers including Walmart (NYSE:WMT) and Target Corporation (NYSE:TGT), along with retail sales data for July.

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

• Tesla (NASDAQ:TSLA) stock fell 1.4% after the electric car manufacturer cut prices in China for two of its Model Y variants, as it attempts to combat increased competition and entice customers wary of making big purchases in an uncertain economy.

• U.S. Steel (NYSE:X) stock jumped 32% after the steelmaker rejected a $7.3 billion buyout offer from Cleveland-Cliffs (NYSE:CLF), up 9.8%, and said it would review its options following "multiple unsolicited proposals."

• AMC Entertainment (NYSE:AMC) stock fell 33% after a Delaware judge approved the movie theater chain's revised stockholder settlement on Friday, clearing the way for it to sell more shares and pay down some of its $5.1B in debt.

• Philips ADRs (NYSE:PHG) rose 3.8% after the investment firm Exor (OTC:EXXRF) took a 15% stake in the healthcare company, a welcome vote of confidence in the Dutch company.

• Okta (NASDAQ:OKTA) stock rose 2.4% after Goldman Sachs upgraded its stance on the identity software company to ‘buy’ from ‘sell’, seeing more than 25% upside.

• Marriott International (NASDAQ:MAR) stock fell 0.2% after Bernstein downgraded the hotel chain to ‘market perform’ from ‘outperform’ after a strong run, saying its upside is now limited.

• Nikola (NASDAQ:NKL) stock fell 8.5% after the company said on Friday it was recalling all the battery-powered electric trucks that it has delivered to date and is suspending sales after an investigation into recent fires found a coolant leak inside a battery pack as the cause.

-- Peter Nurse contributed to this report