Tesla, DWAC, First Majestic, First Republic Bank, New York Community Bancorp: Why These 5 Stocks Are Drawing Investors' Attention Today

Zinger Key Points
  • Moody’s Investors Service on Monday reportedly upgraded Tesla’s credit score by one notch to “Baa3.”
  • S&P Global downgraded credit ratings of First Republic Bank deeper into junk status.
  • First Majestic Silver Corp announced plans to temporarily suspend all mining activities at one of its gold mines.

Major Wall Street indices ended in the green on Monday after fears of the banking crisis ebbed following the rescue deal announcement of Credit Suisse Group AG CS as well as the coordinated action by central banks around the world to boost liquidity. Market participants are now keenly eyeing the Federal Reserve policy meet as expectations of a pause in rate hikes are gathering momentum. Meanwhile, the following five stocks are drawing investors' attention:

1. Tesla Inc TSLA: Shares of Tesla closed 1.73% higher on Monday. Moody's Investors Service on Monday upgraded Tesla's credit score by one notch to "Baa3," reported Bloomberg. The action follows a similar move by S&P Global Ratings in October, the report said.

Also Read: Everything You Need to Know About Tesla Stock

2. Digital World Acquisition Corp DWAC: Shares of the company closed 10.96% higher on Monday. Digital World Acquisition is a SPAC expected to merge with Donald Trump's Trump Media & Technology Group. The stock witnessed volatility after Trump said he expected to be arrested on Tuesday over alleged hush-money payments to a porn star in 2016.

3. First Majestic Silver Corp AG: Shares of the company fell 14.92% in extended trading after it announced plans to temporarily suspend all mining activities at one of its gold mines. First Majestic said it will suspend mining activities, reduce investments and trim its workforce at Jerritt Canyon, effective immediately.

4. First Republic Bank FRC: Shares of the lender closed 47.11% lower on Monday. S&P Global had downgraded the credit ratings of the lender deeper into junk status on Sunday saying the recent $30 billion deposit infusion from 11 big banks may not solve its liquidity issues.

5. New York Community Bancorp, Inc. NYCB: Shares of the company closed 31.65% higher on Monday after the FDIC said a wholly owned subsidiary of the lender has entered into a purchase and assumption agreement to buy deposits and certain loan portfolios of Signature Bridge Bank.

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