Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Tesla (TSLA) shares climbed in trading on Monday following the White House releasing its lists of high level guests joining President Trump on his trip to China this week - and it included Elon Musk. China is the world’s largest car market and a crucial one for Tesla. The electric-vehicle maker is working to stabilize its business in China as it contends with fierce competition from homegrown manufacturers such as BYD Co. Vehicle shipments last month from Tesla’s Shanghai factory, which serves both the local and export markets, climbed 36% from a year earlier.
- Mosaic (MOS) shares fell after the fertilizer company forecast second-quarter phosphates sales volumes that missed the average analyst estimate and pulled its full-year production guidance, as higher Iran war-related costs pressure margins.
- BuzzFeed (BZFD) shares surged in post-market trading today when it was announced that comedian and media mogul Byron Allen is paying $120 million for a 52% stake in the online publisher and will assume the titles of chairman and chief executive officer from co-founder Jonah Peretti. The New York-based company was once a darling of the digital media world, racking up page views with its popular online quizzes and attracting investment from the likes of Comcast. A foray into movie making didn’t pan out, however, and its core online news business began to struggle. Layoffs and divestitures followed and the company sought outside sources of capital.