Tesla, Li Auto and CNH Industrial fall; Salesforce rises By biedexmarkets.com

biedexmarkets.com — Main U.S. indexes edged higher Monday, starting the new week, dominated by Big Tech earnings, with a positive tone.

Here are some of the biggest U.S. stock movers today:

​Tesla (TSLA) stock fell 4.6% after the EV manufacturer announced fresh price cuts in several key markets, including China and Germany, days after similar reductions in the United States, risking a fresh electric vehicle price war.

Li Auto (NASDAQ:) stock fell 6% after the Chinese EV maker also cut prices of some of its models, including the L7, L8, L9, and the newly launched MEGA SUV.

Apple (NASDAQ:) stock was flat after analysts at Morgan Stanley urged investors to buy “post-earnings weakness” in the iPhone maker, saying they expect the guidance for the June quarter’s revenue and implied EPS will be 4%-7% below Wall Street expectations.

Verizon (NYSE:) stock fell 3.6% after the telecoms giant said on Monday it lost fewer-than-expected wireless subscribers in the first quarter thanks to its flexible plans and streaming bundles offering discounted pricing. Overall its first quarter results were viewed as mixed.

Salesforce (NYSE:) stock rose 0.3% after the business software maker backed away from its talks to acquire data-management software firm Informatica (INFA), down 9%, after the two companies could not agree on terms.

Quanex (NYSE:) stock fell 4% after the building supplies company announced plans to acquire U.K. rival Tyman for $1.1 billion.

Cardinal Health (NYSE:) stock fell 5.7% after the healthcare company said its contracts with pharmacy-benefits manager OptumRx will not be renewed when they expire at the end of June and will not be renewed.

CNH Industrial (NYSE:) stock fell 5% after the agricultural machinery manufacturer announced the departure of CEO Scott Wine, appointing Gerrit Marx to run the company.

Spotify Technology S.A. (NYSE:) declined 2.5% ahead of the release of its first quarter results on Tuesday morning.

Ford (NYSE:) climbed 4%. Its first quarter earnings report is scheduled to be released on Wednesday.

Additional reporting by Louis Juricic