BYD Leapfrogs Tesla, Boeing Next-Generation Plane, Azek Acquisition
On this episode of Stock Movers:
- BYD ’s sales last year surpassed the $100 billion mark, leapfrogging Elon Musk’s Tesla Inc. on revenue, as the Chinese auto giant wows consumers with a range of electric and hybrid cars packed with high-tech features.
- Boeing Co. shares were upgraded to buy, from hold, at Melius Research after the planemaker won a contract for a next-generation US stealth fighter jet. Lockheed Martin Corp. shares were downgraded to hold, from buy, after the failure to win that contract and a series of other competitive losses.
- James Hardie Industries Plc Chief Executive Officer Aaron Erter defended the company’s $8.75 billion acquisition of home-decking provider AZEK Co.
Shares in James Hardie closed down 14.5% in Sydney trading, the steepest decline in 10 months, after the deal was announced Monday, wiping about A$2.9 billion off the company’s market value.
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