Tesla, First Republic, KeyCorp, UBS, And More Stocks Move Midday

‍Tesla

In the wake of Moody's upgrading Tesla's credit rating to Baa3 from its junk rating, Tesla shares soared by 5%. A Moody’s rating of Baa3 reflects Tesla’s prudent financial policy and management's track record in operating the electric vehicle industry, which was credited by Moody as “one of the world's leading manufacturers of battery electric vehicles”.

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First Republic, KeyCorp, U.S. Bancorp

A government backstop of deposits at more banks would be considered by the Treasury Secretary on Tuesday to protect the financial system, as Treasury Secretary Janet Yellen said. First Republic's shares soared over 41%, while KeyCorp's shares rose nearly 9%. U.S. Bancorp's shares rose almost 8%.

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JPMorgan, Bank of America

After Yellen's remarks on Tuesday night, U.S. investors expressed increased optimism, causing shares of the two largest U.S. banks to rise. JPMorgan gained about 3% and Bank of America rose by 3.5% after Yellen's remarks. 

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Foot Locker

As Citi upgraded Foot Locker to a buy from an equal upgrade after its investor day on Monday, the retailer gained 6% after the firm said that it was moving away from malls towards digital, kids, and loyalty projects, alleging that it is taking the right steps.

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Harley-Davidson

In the wake of Morgan Stanley's upgrade of Harley-Davidson and the report that the company would focus more on its core business, the stock rose more than 5 percent. The stock has also been upgraded by Jefferies, which says that, following a recent decline, the company has a more balanced risk and reward situation.

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UBS

It was announced over the weekend that the Swiss-based bank would be buying Credit Suisse for $3.2 billion, and its U.S.-listed shares gained 12% in afternoon trading as a result of the deal. If the previous Monday's plunge of 53% was any indication, Credit Suisse shares raised 5% in midday trading.

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Roblox

The share price of the online game platform rose by more than 3% after D.A. Davidson said the company had untapped potential in artificial intelligence that should be seized upon.

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Emerson Electric

Morgan Stanley upgraded the stock to overweight from equal weight after stating that the company's shares are too attractive to ignore and are too attractive to ignore. This actually led to a nearly 2% increase in the company's shares.

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Exxon Mobil

There was a 3% increase in the stock price of the oil and gas giant after Morgan Stanley stated it favored the oil giant's aggressive “competitive positioning.”