Tesla drops on analyst “avoid” warning; UBS hurt by uncertainty; Alphabet passes Apple market cap
Time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.
Tesla
Tesla (TSLA) shares are falling in early trading. The electric carmaker's stock is under pressure after a research note from Pacific Crest Securities analyst Brad Erickson urged investors to “avoid” the stock on concern over underlying demand. Erickson also noted that he did not expect Tesla to get its Model X into showrooms until late spring due to production challenges.
UBS
Shares of UBS (UBS) are taking a hit after reporting quarterly earnings. Despite its profit rising 11% in the fourth quarter, uncertainty in the markets weighed on the results of its wealth management and investment banking businesses. The Swiss bank said its results were hurt by "very low levels of client activity and pronounced risk aversion.”
Alphabet
Investors are cheering on Alphabet (GOOGL) in early trading. Shares are climbing after Google’s parent company reported fourth-quarter earnings per share that blew past Wall Street estimates. Solid growth in the search giant’s core Internet businesses boosted results. Alphabet is now the most valuable company in the world, passing Apple in terms of market cap at the opening bell. Alphabet has a market cap of $553.26 billion, higher than Apple’s $529.34 billion as of 11:00am ET.