Major Wall Street indices closed in the red on Monday, in a reversal of last week’s rally driven by softer inflation data. On Sunday, Federal Reserve Governor Christopher Waller said markets should pay attention to the "endpoint" of rate increases, not the pace of each move, and that the endpoint is likely still "a ways off."
The indices pared some of their losses after Federal Reserve Vice Chair Lael Brainard indicated the central bank may soon slow the pace of its interest rate increases. Meanwhile, here are the five stocks that are drawing retail investors’ attention today:
1. Tesla Inc TSLA: Elon Musk’s $56 billion pay granted by Tesla is being contested in court, reported BBC News. A shareholder has asked a U.S. judge to revoke the award, which was considered the biggest on record when the company announced it in 2018, the report said. Tesla shares closed 2.56% lower on Monday.
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2. Amazon.com, Inc. AMZN: Germany's antitrust watchdog said on Monday it had widened two probes into Amazon.com, taking into account a new regulation that allows it to prohibit any anti-competitive behavior at an earlier stage, reported Reuters. Shares of Amazon closed 2.28% lower on Monday.
3. Opiant Pharmaceuticals Inc OPNT: Shares of Opiant closed 113% higher on Monday following news that Indivior PLC IZQVD will acquire the company for an upfront consideration of $20 per share, in cash (approximately $145 million in aggregate), plus up to $8 per share in contingent value rights.
4. Nu Holdings Ltd NU: Shares of Nu Holdings rose over 15% in after-hours trading after the company reported record revenues of $1.3 billion during the quarter and broke even at the holding level. It reported a net profit of $7.8 million.
5. Paramount Global PARAA: Shares of the company rose over 4% in extended trading on Monday after Warren Buffett’s Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) disclosed it hiked its holding in the company to $1.7 billion in the third quarter, according to a CNBC report.
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