© Reuters.
By Liz Moyer
Investing.com — Stocks reversed early losses and were rising on Tuesday as investors swooped in to bargain hunt. Here are the midday movers for Dec. 20.
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Tesla Inc (NASDAQ:) shares fell 5.6% after Evercore ISI cut its price target, citing challenges with production in China and the continuing drama at Twitter as CEO Elon Musk is reportedly on a search for a CEO for the social media platform he bought in October.
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General Mills Inc (NYSE:) stock fell 4% after the cereal and packaged foods maker beat for revenue and profit and raised its full-year forecast. Higher prices helped it offset rising costs.
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Wells Fargo & Company (NYSE:) stock fell 1% after the banking giant agreed to a $3.7 billion settlement with the Consumer Financial Protection Bureau over allegations of loan mismanagement.
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Moderna Inc (NASDAQ:) stock rose 6.6% after Jefferies upgraded it to buy from hold, citing growth opportunities for the pharmaceutical company beyond the COVID-19 vaccine that made it famous. Last week it announced its experimental cancer vaccine reduced the risk of death in skin cancer patients who were also using Merck’s Keytruda.
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Curaleaf Holdings Inc (OTC:) stock fell 5.5% after the federal budget bill being hammered out on Capitol Hill this week failed to include a provision to allow cannabis companies access to banks. Trulieve Cannabis Corp (OTC:) shares fell 4.8%.
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