Shares of
Rivian Automotive
(RIVN) fell 0.4% to $24.38. The EV truck maker delivered 15,564 vehicles in the third quarter, higher than expectations of about 14,000 In addition, Evercore ISI upgraded the EV truck maker to Outperform from In Line with a price target of $35.
U.S.-listed shares of Chinese EV makers
NIO
(
NIO
),
XPeng
(XPEV), and
Li Auto
(LI) traded mixed after the companies reported a combined 66,831 deliveries in September, up 116% from a year earlier. It was the second-best combined month ever. NIO fell 2.4%,
XPeng
gained 0.5%, and
Li Auto
was down 0.4%.
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Discover Financial Services
(DFS) rose 5.6% and was the top performer in the
S&P 500.
The credit-card company reached a consent order with the Federal Deposit Insurance Corp. to improve consumer compliance. The FDIC order didn’t include any fines or penalties.
Insulet
(PODD), a maker of a disposable insulin delivery system, gained 3.5% to $165.09 after being upgraded to Buy from Hold at Jefferies. The price target was cut to $240 from $260.
SolarEdge Technologies
(SEDG) was downgraded to Equal Weight from Overweight at
Barclays
and the price target was slashed to $152 from $274. The stock declined 4.6% to $123.57.
Sphere Entertainment
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(SPHR) rose 16%. The Sphere entertainment venue opened in Las Vegas over the weekend with a concert from U2.
Nvidia
(NVDA) was added to the Conviction List at
Goldman Sachs
.
The firm maintained its Buy rating on shares of the chip maker with a price target of $605.
Nvidia
rose 3% to $448.
Apple
(AAPL) traded up 1.3%. The company said over the weekend it plans to release an iOS 17 software update to improve overheating issues with the recently released iPhone 15.
Write to Joe Woelfel at [email protected]
