Stocks

Today’s Stocks to Watch: Tesla, Home Depot, and Bayer

November 12, 2024

Key Points To Watch Out For:

  • Tesla and Bayer stocks showed significant volatility
  • SoftBank scored a return to profitability with $7.7 billion in earnings
  • Home Depot upgraded its 2024 guidance after a strong quarter

Tesla (TSLA) Experiences Volatility Amid Post-Election Surge

Tesla’s stock displayed significant market volatility, reflecting heightened investor interest following Donald Trump’s presidential election victory. Shares of the electric vehicle maker surged 9% on Monday alone, propelled by optimism surrounding potential policy benefits under a Trump administration. Tesla’s CEO, Elon Musk, a well-known Trump ally, may leverage this political alignment to strengthen Tesla’s growth trajectory.

Live Nation (LYV) Sees Growth from Summer Success

Live Nation Entertainment, the parent company of Ticketmaster, reported quarterly earnings that surpassed market expectations. Its strong summer concert season was a key driver of growth, positioning the company for further expansion in 2025. Live Nation’s robust performance has solidified its status as a leader in the live entertainment industry.

SoftBank (9984) Achieves a Major Turnaround

Japanese tech conglomerate SoftBank, under CEO Masayoshi Son, announced a return to profitability in the latest quarter with a net income of $7.7 billion. This remarkable rebound follows challenging quarters, signaling improved operational efficiency and strategic investments paying off.

Bayer (BAYN) Faces Pressure After Downgrade in Forecasts

Bayer stocks plummeted 11% after the German pharmaceutical and agricultural giant slashed its annual guidance, citing larger-than-expected losses in Q3. Investors expressed concerns over Bayer’s financial stability and the company’s ability to recover from mounting challenges in its core markets.

Home Depot (HD) Beats Expectations and Raises 2024 Guidance

Home Depot reported stronger-than-anticipated quarterly earnings and sales, enabling the home improvement retailer to revise its 2024 outlook upwards. This solid performance boosted its stock price by over 2% in pre-market trading, reflecting confidence in the company’s ability to sustain its momentum.

Tyson Foods (TSN) Prepares for Quarterly Earnings Report

Tyson Foods is set to release its quarterly earnings before the market opens, with investors eagerly awaiting updates on the company’s performance amid volatile commodity prices and shifts in consumer demand.

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