Tesla Falls, Intel Rises, Carmax Sales Shortfall
On this episode of Stock Movers:
- Tesla (TSLA) shares fell as European sales of the electric vehicle giant dropped 22% in August, giving it a market share of just 1.9%. Even as consumers in Europe eschew Tesla, EV sales rose in the region in August, with hybrids as a particular bright spot. Still, Tesla was the worst performer among Bloomberg Magnificent Seven stocks.
- Intel (INTC) / Apple (AAPL) shares rise after news that Intel has approached Apple about securing an investment in the ailing chipmaker, according to people familiar with the matter, as part of efforts to bolster a business that’s now partially owned by the US government.
- CarMax (KMX) shares fall after the used car retailer reported significant earnings per share and sales shortfalls for the second quarter, which Truist Financial Services analysts described as a “miss across the board” with “really nothing good to see.” Wedbush downgraded the stock to neutral.
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