Facebook Inc (NASDAQ:FB) rallied after Guggenheim analyst Michael Morris upgraded the company to Buy from Hold and raised his price target to $200 from $175, MarketWatch reported. That’s a 15% premium over Wednesday’s close. The social media titan also launched a version of WhatsApp Business for Apple Inc (NYSE:AAPL) devices on Thursday, more than a year after an Android version debuted, per Reuters.
Investors liked what they heard, sending share up 1.7% to $176.45.
Tesla Inc (NASDAQ:TSLA) stock plunged after the electric carmaker announced that it delivered 63,000 vehicles in the first quarter. That total included 51,000 of its Model 3, falling short of the Refinitiv consensus of 58,900, according to TheStreet. Deliveries in Europe and China were way up, the company said, which slowed things down and shifted some deliveries into the second quarter. Meanwhile, Tesla’s lawyers are heading to court Thursday to argue that embattled CEO Elon Musk did not violate his fraud settlement with the Securities and Exchange Commission by tweeting about the company without approval from the council, according to Reuters.
Investors put the share price in reverse, pushing it down 7.8% to $268.91.
Office Depot Inc (NASDAQ:ODP) stock tumbled Thursday on preliminary first-quarter results that disappointed investors. The office supplies retailer posted $2.76 billion in revenue and adjusted operating income of $61 million. That’s well below analysts’ average expectation of $2.82 billion. The company’s CompuCom division is expected to report a loss of $15 million. The Florida-based company will report definitive numbers and updated guidance on May 8.
The stock was shelved, falling more than 20% to $3.01.
JD.com Inc (NASDAQ:JD) dropped after the China e-commerce company announced in that Chief Public Affairs Officer Ye Lan will resign May 31, via a Securities and Exchange Commission filing. Lan has held the position since August 2015, and no replacement has been named. The company also unveiled its new blockchain framework, JD Chain.
Investors are wary of the change, dropping the stock 0.6% to $30.12.
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