Stock Market News Daily Roundup October 9

Shares of Tesla Inc (NASDAQ: TSLA) are up about 6% today after Macquarie Research released a bullish report on the company. Beginning the coverage of TSLA with an outperform rating, the firm’s analyst Maynard Um set a price target of $430, which is 72% more than the stock’s closing price of $250.56 on Monday.

Story continues below

Dominion Energy Inc (NYSE: D) shares moved up 0.4%. The utility announced that Mark McGettrick will step down as chief financial officer, effective Nov. 1. McGettrick, who will be retiring from the company on Jan. 1, 2019 after 38 years of service, will be replaced by James Chapman, who is senior vice president of mergers and acquisitions and treasurer.

Shares of American Airlines Group Inc (NASDAQ: AAL) are down over 5% Tuesday after the company reported raising its third-quarter outlook for total revenue per available seat mile (TRASM). The air carrier expects TRASM growth of 2% to 3% from a year earlier. Shares were initially up in the premarket but has since collapsed.

Google, a subsidiary of Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), has reportedly decided not to take part in the bidding process for a $10-billion cloud computing contract with the U.S. Defense Department. According to Reuters, Google said that it is withdrawing because the project may not be align with its new artificial intelligence guidelines. In other news, Reuters reports that, Google is ready to unveil the third-edition of its Pixel smartphone at 10 media events across the world on Tuesday.

Shares of Microsoft Corporation (NASDAQ: MSFT) rose 1.26% after the company announced that it made a strategic investment in Singapore-based ride-hailing service Grab. Under a five-year agreement, the companies will collaborate on big data, artificial intelligence and mobility solutions. “Our partnership with Grab opens up new opportunities to innovate in both a rapidly evolving industry and growth region,” Microsoft Executive Vice President Peggy Johnson said in a statement.

Papa John’s Int’l, Inc. (NASDAQ: PZZA) are soaring on reports that Trian Fund Management is considering a takeover bid for the pizza chain. The company’s shares were up nearly 8% in the morning session. Citing people familiar with the matter, the Wall Street Journal reported that the activist hedge fund recently contacted the company to collect information as it explores a potential bid.

An ad to help with our costs