Check out the companies making headlines in midday trading. Hertz – The rental car company dropped 6.4% after the stock rallied 112% after Bill Ackman revealed a big investment . Pershing Square has taken a 19.8% stake in Hertz with outright share ownership and total return swaps. Ackman believes Hertz “uniquely well-positioned” in Trump’s tariff regime as auto duties are likely to cause used car prices to rise. Tesla – Shares of the electric vehicle company declined 6.8% after Barclays cut its price target on Tesla ahead of its first-quarter earnings report. The firm cited “confusing” visibility heading into earnings and said “it will be increasingly difficult” for Tesla to see volume growth in 2025. Nvidia – The chip giant fell more than 5%, leading the Dow Jones Industrial Average’s slump during Monday’s session. Nvidia shares slid nearly 3% on Thursday and almost 7% on Wednesday after the company said earlier in the week last week that it’ll record a $5.5 billion charge due to controls around exporting its H20 graphics processing units to China and other destinations. Semiconductor stocks – Shares of other chip stocks slid on Monday, with Taiwan Semiconductor Manufacturing dropping more than 2.5% as well as Advanced Micro Devices and Broadcom declining 3.3% and about 4%, respectively. The pullback comes as analysts have warned that U.S. chip controls could benefit China’s local AI chip players . Amazon – Shares of the e-commerce giant dropped 3.3% on the back of Raymond James’ downgrade to outperform from strong buy. The firm also whittled down its price target, noting concerns tied to tariffs and the economic backdrop. Apple – The iPhone maker’s stock slipped more than 2.5% amid heightened uncertainty related to President Donald Trump’s tariffs. Moffett Nathanson predicted Monday that the levies will hurt the company’s earnings in the longer term . The megacap technology name has fallen more than 14% this month. Alphabet – The tech giant dropped 2.8% after a federal judge last week said Alphabet holds an illegal monopoly in online advertising markets. The Google-parent is also set to report its latest quarterly report Thursday, at a time when the company is dealing with tariff uncertainty. Netflix – The streaming giant climbed more than 1% on the back of its first-quarter earnings and revenue beat. Netflix also cited relative insulation from tariffs. Several Wall Street analysts raised their price targets on the stock on Monday. Comerica – The regional bank stock fell more than 4% after Comerica said it expected average loans and average deposits to decline in 2025. However, Comerica’s first quarter earnings per share of $1.25 did beat expectations of $1.16, according to FactSet. MicroStrategy – Shares of the bitcoin proxy, which recently rebranded to Strategy , slightly on Monday. The gain comes as the price of bitcoin jumped nearly 4% in contrast to the broader market selling off and the U.S. dollar hitting its lowest level in three years . — CNBC’s Alex Harring, Jesse Pound, Yun Li, Hakyung Kim, Pia Singh and Sarah Min contributed reporting.
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