Midday Movers: Tesla, Kohl’s, Coinbase and More

2022.06.03 19:51

By Liz Moyer

Investing.com — U.S. stocks are lower on Friday after a stronger than expected jobs report. Here are the midday movers for June 3: 

• Tesla Inc (NASDAQ:TSLA) shares fell 8% after CEO Elon Musk reportedly said in an email that he was worried about the economy and wanted to cut 10% from the electric vehicle maker’s employee base, according to Reuters. 
• Kohl’s Corp (NYSE:KSS) shares rose 2% after a report the department store chain had attracted two takeover offers, one from private-equity firm Sycamore Partners and the other from retail holding company Franchise Group (NASDAQ:FRG).
• Coinbase Global Inc (NASDAQ:COIN) shares fell 8% after reports the cryptocurrency exchange operator was extending its hiring pause and rescinding some job offers it recently made, citing the macroeconomic environment.
• Frontier Group Holdings Inc (NASDAQ:ULCC) shares dipped 4.4% after it said it would pay a $250 million fee if regulators fail to approve its planned merger with Spirit Airlines (NYSE:SAVE). Spirit shares fell 3.4%.
• Turning Point Therapeutics Inc (NASDAQ:TPTX) shares doubled after Bristol Myers (NYSE:BMY) Squibb announced plans to buy it for $76 a share. 
• Crowdstrike Holdings Inc (NASDAQ:CRWD) shares fell 5.7% despite announcing better than expected earnings and boosting its fiscal year outlook. 
• Okta Inc (NASDAQ:OKTA) shares rose 7% after beating expectations for earnings in the fiscal first quarter and raising its outlook.

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