Top Stock Movers Now: Tesla, Moderna, Ulta Beauty, and More

Key Takeaways

• U.S. equities were mostly lower at midday as new concerns about inflation dragged down the tech sector.
• Tesla shares lost ground when the EV maker came under investigation by federal safety regulators, and was downgraded by Bank of America.
• Getty Images and Shutterstock announced they would merge.

U.S. equities were mostly lower at midday as a new report on the services sector raised red flags about inflation. The Nasdaq lost 1.2%, and the S&P 500 also fell. The Dow Jones Industrial Average ticked higher. 

Tesla (TSLA) shares tumbled when federal regulators began an investigation of collisions which may be related to the electric vehicle (EV) maker's "Actually Smart Summon" function. In addition, Bank of America downgraded the stock on worries about its high valuation and strategy.

Shares of Palantir Technologies (PLTR) sank for a second straight session after Morgan Stanley warned the stock price was too high.

Meta Platforms (META) shares declined when the social media giant said it was scrapping its third-party fact-checking system and following the model used by rival X, owned by Elon Musk.  

Moderna (MRNA) was the best-performing stock in the S&P 500 on expectations the vaccine maker’s experimental shot against bird flu will be in demand after the U.S. reported the first human death from the disease.

Shares of Getty Images Holdings (GETY) and Shutterstock (SSTK) soared when the providers of stock images and videos said they would merge, creating a company with an enterprise value of $3.7 billion.

Ulta Beauty (ULTA) shares climbed when the maker of beauty products boosted its guidance on strong holiday sales, and announced that COO Kecia Steelman would become the new CEO, replacing the retiring Dave Kimbell.

Oil and gold futures advanced. The yield on the 10-year Treasury note gained. The U.S. dollar was higher against the euro, pound, and yen. Prices for most major cryptocurrencies dipped. 

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