Tesla Rises, Lockheed Martin Drops, First Solar Gains After Jeffries Upgrade

On this episode of Stock Movers:
- Tesla (TSLA) shares rise after Tesla CEO Elon Musk said he regretted some of his posts about President Donald Trump last week. The two traded barbs on social media last week after Musk criticized the Republicans' tax bill.
- Lockheed Martin (LMT) shares drop after the Air Force cut its request for signature F-35s in half. That's down to 24 planes from 48 forecasted last year. The Air Force is the largest customer for Lockheed, which is the top US defense contractor.
- First Solar (FSLR) shares rise after Jefferies raised its recommendation on the solar technology company to buy from hold on speculation that Congress may support parts of the Inflation Reduction Act. Bloomberg Intelligence analysts note that the Senate will probably moderate some of the House's provisions related to the Inflation Reduction Act, and they see an 80% chance that a deal gets done by the August recess.

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news, The.

Speaker 2 (00:08):
Stock Movers podcast, your roundup of companies making moves in
the stock market, harnessing the power of Bloomberg data. Well,
let's take a look at some of the stocks on
the move today. I'm Paul Sweeney with Isabel Lee and
we're joined by Bloomberg.

Speaker 1 (00:23):
Christine. You know, Christine, what are you looking at? Well,
let's take a look at Tesla, Paul, because that doesn't
mean pretty well today though, pairing some of those earlier
opening gains to her, Tsla just up now over one percent,
one point six percent at the moment. That was up
earlier two percent. But basically this is Elon Musk showing
some signs of regret. He was posting on x saying

(00:45):
that some of his posts about President Donald Trump last
week were regrettable. Remember they traded Barbes right over the
Republicans tax bill. Elon Musk criticized that, and of course
President Trump was not happy about that, and so den
I have from Wedbush weighing in calling it an important
step and given that the timing of the argument was
not ideal because Tesla is about to launch its ROBOTAXI

(01:07):
in Austin, so see a bit of recovery and those
shares there today. What about Lockheed Martin shares are sliding?

Speaker 2 (01:13):
Why is that?

Speaker 1 (01:13):
Yeah, exactly Isabelle. We're seeing those losses extending. Actually now
down more than five percent. So that's Lockey Martin took
her LMT and that is because the Air Force cut
its request for signature F thirty fives in half. It's
now down to a request four to twenty four planes
from a forecast of forty eight last year. And remember
Lockheed is the top US defence contractor and the Air

(01:36):
Force is their largest customer. So this of course probably
reflects the efforts to comply with Defense Secretary Pete Hegsas's
plan to reduce projected military spending by over eight percent
in the next five years. All right, what else you're
looking at? Looking at First Solar today, those shares having
a good time. That's up now more than three percent.
So First Solar took her FSLR, and that is because

(01:58):
Jeffries raised his record mandation for the stock is now
a buy from Holt previously, and analysts are pointing speculation
at Congress may support parts of the Inflation Reduction app
which the company benefits from as a solartech company, and
Bloomberg Intelligence analysts also saying that the Senate will probably
moderate some of the Houses provisions for the Inflation Reduction

(02:19):
Act part of the bill, and they see an eighty
percent chance that a deal gets sun before the August prisis.

Speaker 2 (02:25):
The Stock Movers podcast from Bloomberg Radio. Check back with
us throughout the day for the latest roundup of companies
making news on Wall Street and for the latest market
moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Bloomberg dot com, and on Applecarplay and Android Auto with
the Bloomberg Business app.