U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.66%

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Soros exits Tesla (TSLA), reduces Rivian (RIVN) stake after 90% drop from peak

May 15, 2023 8:50 AM EDT

Soros Fund Management, the family office of George Soros, cut its holdings in Rivian Automotive (NASDAQ: RIVN) following the electric automakers 90% share decline from its intraday peak in November 2021. The billionaire also slashed its $16 million stake in Tesla (NASDAQ: TSLA), effectively eliminating their investment in the EV giant.

Soros purchased... More

Tapestry (TPR) long-term investment case favored at Bernstein, with 'China demand surging'

May 15, 2023 8:25 AM EDT

Bernstein analyst Aneesha Sherman upgraded shares of Tapestry (NYSE: TPR) to Outperform from Market Perform, as well as raising the firm's price target on the stock to $55 from $50 per share in a note to clients Monday.

The analyst told investors that they like... More