Check out Monday's news companies on Monday:
Pfizer – One of the world's largest pharmaceutical companies slipped to 1.5% on Monday after its Japanese subsidiary recalled hundreds of thousands of tablets of a drug for high blood pressure. More than 763,000 tablets of the Amvalo drug, manufactured from April to July in Mylan, are the subject of recall, said Pfizer in Japan.
Goodyear Tire & Rubber Company – The shares of the multinational tire manufacturer fell more 3.5% in the midday trade after two intermediaries downgraded the stock. Argus Research reduced its earnings estimates based on estimates of reduced earnings and short-term wind costs.
Tesla – The electric car manufacturer reorganized after Canaccord Genuity upgraded Tesla to buy hold, with a new price target representing an upward 47% for the stock. The company expects greater penetration of electric vehicles and the company is approaching the construction of an economic car for the masses.
Activision Blizzard – The video game giant has dropped 7% on Monday after a Bloomberg report that plans to announce hundreds of job cuts this week. The redundancies would be part of a restructuring effort as the company is facing slow sales, Bloomberg said, citing anonymous sources that are familiar with the issue.
Norfolk Southern Corp. – The railway holding company has increased 4% after outlining a strategic plan focused on increasing productivity and revenue growth at its investor conference. CEO James Squires said in a press release that lower costs and greater efficiency "will provide stronger margins".
Avaya Holdings – The multinational company specializing in corporate communications lost 11.74% following the release of a value below expectations for earnings and revenues for their first quarter. The company has also appointed Kieran McGrath as the new CFO, in force since February 15, 2019.
– Tom Franck, Kate Rooney, Nadine El-Bawab and Michael Sheetz of the CNB contributed to this report.