Tesla, Southern Copper And A Ride-Share Giant On CNBC's 'Final Trades'
Portfolio Pulse from Avi Kapoor
Tesla, Inc. (TSLA) shares fell over 12% after reporting Q4 revenue and EPS that missed consensus estimates. Southern Copper Corporation (SCCO) was downgraded by Morgan Stanley from Equal-Weight to Underweight with a reduced price target. Uber Technologies, Inc. (UBER) reached a new all-time high and is showing interest in federal marijuana lobbying, which could benefit from the SAFE Banking Act.
January 26, 2024 | 1:53 pm
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POSITIVE IMPACT
Uber reached a new all-time high and is actively interested in federal marijuana lobbying, which could be positively influenced by the SAFE Banking Act.
Reaching a new all-time high indicates strong market sentiment, and involvement in federal marijuana lobbying could open new business avenues if the SAFE Banking Act passes. This may have a positive short-term impact on UBER's stock.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Southern Copper was downgraded by Morgan Stanley with a lower price target, potentially impacting investor sentiment.
Analyst downgrades and reduced price targets can lead to negative investor sentiment and a possible decrease in stock price. The downgrade by Morgan Stanley may weigh on SCCO's stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Tesla's Q4 revenue and EPS missed estimates, causing a significant stock price drop.
Missing earnings and revenue estimates typically result in a negative short-term reaction in the stock market. Tesla's significant miss on both fronts suggests a bearish outlook for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100