Markets

Alibaba, Tesla, Microsoft, and More By Investing.com


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By Liz Moyer

Investing.com — Stocks rose Monday, as big tech companies gathered to report earnings. Here are the top midday movers for October 24, 2014.

  • Alibaba Group Holdings Ltd ADR (NYSE:) shares fell Monday along with other Chinese companies after Xi Jinping secured his leadership for a third term. The shares of the ecommerce giant dropped 15% Baidu Inc (NASDAQ:) Shares also fell 13.7%

  • Tesla Inc (NASDAQ:) Stock fell 3.3% following a cut in prices by the electric vehicle manufacturer in China. The Model 3 sedan price there fell about 5% to 279,000 yuan, or $38,500, and the Model Y SUV’ is now 9% lower in price, around 316,000 yuan, or $43,600.

  • Microsoft Corporation (NASDAQ: ) shares rose 1.6% as software giant prepares to announce third-quarter earnings Tuesday. Analysts are optimistic about its cloud computing division, which generates half of its overall revenue.

  • Meta Platforms Inc (NASDAQ:) Stock rose 2.4% after BofA analysts reduced it to neutral from buy due to concern about its advertising business. Snap (NYSE:), shares plunged last week after a disappointing fourth quarter outlook for digital advertising sales.

  • JetBlue Airways Corp (NASDAQ: ) Shares rose 3.8% in advance of the airline’s earnings. This carrier is now the latest to release its outlook and results. Analysts expect it will report a profit of 24c per share, adjusted for revenue of $2.6billion. This is because travel demand remains strong.

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