Tesla Inc (NASDAQ:TSLA) stock advanced around 6%, to $263.40, after analysts at Morgan Stanley in a note said the EV pioneer’s Dojo supercomputer could add as much as $500 billion to the company’s market value, through faster adoption of robotaxis and network services.
MS also raised its ‘bull case’ price target to $550 from $450 and made Tesla its top pick.
“We believe Dojo can represent the next step-change in market perception of Tesla,” MS analysts said. Read more
Apple Inc (NASDAQ:AAPL) stock started a pivotal and high profile week on the front foot, with the stock up just shy of 1% in early premarket deals. It comes ahead of tomorrow’s hotly anticipated unveiling of the iPhone 15.
In New York, Apple was up $1.40 or 0.8% changing hands at $179.58. Read more
Hostess Brands Inc (NASDAQ:TWNK) stock surged around 13% on hopes that Smucker Company (NYSE:SJM) is closing in on a deal to buy the sweet-sponge finger company. The market is evidently seeing a potential deal as a win-win, as Smucker stock was also trading higher.
Smucker, owner of the Jif peanut butter and its eponymous jams brand, is “nearing a deal” for Hostess according to a report by the Wall Street Journal over the weekend. Read more
Johnson & Johnson (NYSE:JNJ) spin-out Kenvue Inc (NYSE:KVUE) shares rose 2.5% in pre-market trading on Monday boosted by an upgrade by Deutsche Bank.
The German investment bank has moved the consumer health to 'buy' from 'hold' with an unchanged price target of $27. Analyst Steve Powers sees the company, which owns Band-Aid, Listerine and Neutrogena, as oversold. Read more