Tesla Inc (NASDAQ:TSLA) shares stalled on the company’s so-called autonomy day, which featured the unveiling of the computer the electric-car maker is using in its self-driving vehicles. The computer will fit behind the glove box, MarketWatch reported, and hold two independent chips. The chips, produced by Samsung in Texas, are currently being installed in Model 3s.
Investors weren’t ready to get behind the wheel, dropping the stock nearly 4% to close at $262.75.
Bed Bath & Beyond Inc (NASDAQ:BBBY) sank as the home goods retailer announced dramatic changes to its board amid pressure from activist investors. Five independent directors are stepping down along with two co-founders who are shifting into emeritus roles. Five new directors have been appointed, bringing the board’s membership to 10. Patrick Gaston was named independent chairman, and CEO Steven Temares will remain on the board.
Shares slipped nearly 4% to $16.72.
Dillard's Inc (NYSE:DDS) stock took a dive Monday after Wedbush dropped the company to Underperform from Neutral. Analyst Jen Redding set her price target for the department store chain at $65, which represents a 12% decline from its Thursday close. The note cited “unwarranted share appreciation” of 11% since February 25 when the Arkansas-based company reported fourth quarter results. Redding expects Dillard’s to fall short relative to its peers over the next six months.
The stock dropped 9.8% lower to close at $66.67.
The Kraft Heinz Company (KHC) improved Monday after CEO Bernardo Hees announced he would resign on June 30. To replace him, the food giant poached Anheuser Busch Inbev NV (NYSE:BUD) Chief Marketing Officer Miguel Patricio. He’ll be tasked with rebuilding a stock that crashed 27% on February 22 and never recovered after disclosing an SEC subpoena, cutting its dividend and announcing a $15.4 million impairment charge.
The stock started hot but since cooled, finishing down 0.2% at $32.90.
Halliburton Company (NYSE:HAL) stock zig-zagged Monday on first quarter revenue that exceeded expectations. The oil company reported adjusted net income of $0.23 per share on revenue of $5.7 billion, compared to Street estimates of $0.22 EPS on revenue of $5.5 billion. In the year ago quarter, net income was $0.41 per share on revenue of $5.7 billion. CEO Jeff Miller said the pricing difficulty that has hampered the oil industry will abate in the coming quarter.
Shares of the Houston company were up and down all day but ended relatively flat, falling 0.1% to $31.09.
Kimberly-Clark Corporation (NYSE:KMB) shares rose after the company sweeped past first quarter earnings and revenue. The Kleenex-parent saw EPS of $1.66 on revenue of $4.6 billion, ahead of the $1.54 EPS on $4.5 billion in revenue projected by analysts. It’s a dip year over year for the consumer care product company, which posted $1.71 EPS on $4.7 billion in revenue in 2018. Tissue sales fell 3% to $1.5 billion.
The stock surged nearly 5.4% to $130.23 after flirting with its record high.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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