With too many companies reporting ztheir earnings, let us keep an eye on the market by glancing at some of the top stocks.
The stocks for Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) seems to be taking a downwards plunge and that too quite heavily, more so after Morgan Stanley got a downgrade. The shares for Tesla tumbled by 8% on Monday morning during trading and this pushed it to a 14-year low. The volume for the share ballooned to 39.1 million shares and if you look at the numbers, it is more than triple of the full-day average. No doubt, it was one of the most active traded stocks in all major US exchanges.
The company has definitely missed the kind of profit they were expecting as the stock seems to be headed for the right straight loss. Such a disastrous close last occurred on March 13, 2003 for Tesla Inc (NASDAQ:TSLA). The company believes accelerated price erosion and decreased volume of US generics business are the likely cause for sloppy performance.
Among other shares, the stocks for Google’s parent company, Alphabet Inc (NASDAQ:GOOGL) seems to have gained as they edged up by 0.2% on Monday morning. Trade analyst Rob Sanderson has raised his target to $1210 and this is the tied amount for the second highest position among the 44 different analysts as surveyed. The new target which is set is a whopping 28% above the current levels. Rob says that the new targets have been set as they estimate high revenue for both 2017 and 2018. As Alphabet Inc (NASDAQ:GOOGL) has been highlighting the shift to mobile search and more and more people shifting to mobile use, the stock is likely to be on an upward rise.