Stocks of Tesla, Coinbase, Tyson foods on the positive rise

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Shares of the exploration and production company, Diamondback Energy slid 3.5% amid a dip in oil prices.
Tesla, the electric vehicle stock rose 2.1% after Jefferies upgraded the company to buy from hold. The Wall Street firm said that Tesla was high on earnings momentum and capital allocation. Jefferies hiked its price target to $850 per share from $700.
Shares of the Coinbase cryptocurrency exchange’s stock jumped 8.6% ahead of its quarterly earnings report, which will be released on Tuesday.
Coinbase generates most of its revenue from trading, so the stock price is closely tied to the price of bitcoin, which reached $46,000 till Monday for the first time and broke its 200-day moving average.

The shares of the newly public online brokerage, Robinhood popped 3.3% Monday. Robinhood’s stock has been volatile since its IPO, and it has been getting major attention from the retail investor crowd.


Tyson Foods shares added 8.7% after the beef and poultry producer reported a better-than-expected quarterly earnings report. The company posted quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 per share, according to Refinitiv.


Shares of Sanderson Farms jumped 7.4% after the poultry producer announced it would be acquired by privately-held food producer Cargill and agriculture investment firm Continental Grain for $203 per share. The all-cash deal represents an 11.3% premium over the stock’s Friday closing price.


Shares of Victoria’s Secret surged about 20% after JPMorgan Chase initiated coverage of the lingerie retailer with an overweight rating. The firm said the stock’s current price makes a “compelling entry point” and noted the company is the top market share player in lingerie.