Midday movers: First Solar, Tesla, Charles Schwab and more
Investing.com -- Stocks were headed for another down week after weaker-than-expected consumer sentiment for May. Here are the market movers for May 12.
- First Solar Inc (NASDAQ: FSLR) shares rose 24% after the maker of solar panels said it would buy the European thin film maker Evolar. The deal could boost First Solar's development of new technology.
- Tesla Inc (NASDAQ: TSLA) shares were down 2.3% after an earlier bounce as CEO Elon Musk announced he had hired a new chief for social media platform Twitter. Tesla shareholders have been worried that Musk's time at Twitter has taken him away from managing the electric car maker. Tesla raised prices on some model vehicles after earlier cutting prices on some models.
- Charles Schwab Corp (NYSE: SCHW) shares were rising 2.5% after the brokerage said client assets rose in April, reaching $7.6 trillion, up 5% from the same month last year. Shares of mobile brokerage app maker Robinhood Markets Inc (NASDAQ: HOOD) were down more than 8%, giving back some of the gains this week after it rolled out 24-hour stock trading five days a week.
- Icahn Enterprises LP (NASDAQ: IEP) shares rose more than 6.6% on Friday, regaining some ground after a rocky week. Its board authorized a $500 million stock buyback.
SiriusPoint Ltd (NYSE: SPNT) shares fell 9.6% after the insurance company said it had exploratory discussions with activist investor Daniel Loeb but wasn't able to reach an agreement on the value of a possible transaction.