Tesla shares jumped 6% in premarket trading Monday after Bloomberg News reported that President-elect Donald Trump’s transition team plans to make a national regulatory framework for self-driving vehicles a top priority for the U.S. Transportation Department. Shares of struggling airline Spirit Airlines were halted Monday after the company filed for bankruptcy protection. The stock is down more than 90% year to date and closed at just $1.08 per share on Friday.
The stock rose 2.8% when trading resumed. Liberty Energy shares rose 5% after Trump picked CEO Chris Wright as energy secretary. Shares of nuclear startup Oklo, where Wright also serves as a board member, surged almost 9%.
Roku shares popped 3.1% after Baird upgraded the streaming stock to outperform from neutral. After a large drop this year, Baird said investors are “overlooking” long-term potential and shifts in the business backdrop. Nvidia stock fell 3% on a report from The Information that its Blackwell AI chip has overheating issues, raising concerns about delays to customers.
Nvidia is slated to report its quarterly earnings on Wednesday. Super Micro Computer stock jumped nearly 13% after Barron’s reported on Friday that the company is expected to file a plan for its delayed annual report by Monday to avoid being delisted from the Nasdaq.
Tesla shares jump on regulatory framework
Robinhood shares gained 1% after Needham upgraded the electronic trading platform to buy from hold. Needham believes Robinhood will benefit from a more lax regulatory environment under Trump’s Securities and Exchange Commission appointees. CVS Health shares rose 2% following a Wells Fargo upgrade to overweight from equal weight.
The firm believes downside to aggressive growth initiatives at Aetna, the company’s health insurance segment, have peaked. Warner Bros. Discovery stock gained 3% after the entertainment conglomerate settled a breach of contract lawsuit with the National Basketball Association over television rights, according to the Wall Street Journal.
In the agreement, Warner Bros. will be able to develop new shows with NBA content in both the U.S. and overseas. Moderna shares popped 2.4% after HSBC upgraded the pharmaceutical company to buy from hold, saying its shift to oncology from respiratory vaccines could unlock future growth that isn’t yet reflected in the price.
The stock slid along with other vaccine makers last week after Trump selected vaccine skeptic Robert F. Kennedy Jr. as health secretary.
