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The stocks that make the biggest moves at noon: Tesla, PayPal, Pinterest, and more.

Pedestrians pass in front of a Pinterest sign outside the New York Stock Exchange.

Michael Nagle | Bloomberg | Getty Images

Pay attention to the companies that hit the headlines at noon.

PayPal, Pinterest – PayPal is up more than 3% as Pinterest is down more than 12% after PayPal reacted to reports last week that it was in talks to buy Pinterest, explaining that it was not pursuing a goal the acquisition of the social networking giant “this time.” Pinterest was up on reports last week, while PayPal was down.

Tesla – Shares in the electric car company jumped more than 9% to record highs after news that Hertz is ordering 100,000 vehicles to build its electric vehicle fleet by the end of 2022. Tesla’s $ 4.2 billion is the largest EV purchase ever. Morgan Stanley also raised its target price for the shares.

Kimberly-Clark – Kimberly-Clark fell 3.2% after the consumer goods company posted quarterly earnings of $ 1.62 per share, 3 cents below the Refinitiv consensus. Kimberly-Clark said inflation and supply chain problems are driving margins down.

Restaurant Brands International – Restaurant Brands International fell 3.7% after the company reported quarterly profit. Parent company Burger King and other chains beat expectations for earnings by 2 cents per share, while revenues were slightly below expectations. The company said labor problems affected the work.

Exxon Mobil – Utility stocks rallied amid rising oil prices, with US WTI crude at its highest level in seven years. Exxon added 1.7%, ConocoPhillips added 1.4% and Chevron added 1%.

Bakkt – Bakkt is up over 75% after CNBC announced that a new publicly-traded crypto firm will provide custody services for Mastercard. Mastercard will soon allow banks and merchants to integrate cryptocurrency into their products, including bitcoin wallets, credit and debit cards that earn rewards in crypto and loyalty programs where points can be converted into bitcoins.

Carnival, Norwegian Cruise Line – Carnival fell 1.8% after Citi downgraded its rating to Neutral from Buy. Meanwhile, Norwegian shares rose 0.9% after Citi initiated buy rating coverage on the shares. “Cruise lines are planning to add to their fleet by next summer and consumer interest reflected in our internet traffic data is growing, especially for luxury brands,” Citi analysts say.

Otis Worldwide. The elevator and escalator maker fell about 3%, even after better-than-expected quarterly. According to FactSet, Otis surpassed the top and bottom lines in third-quarter earnings and revenues. The stock is up over 23% this year.

Whirlpool – Whirlpool fell 1.3% after RBC downgraded its rating to underperforming sector results. The firm said Whirlpool is losing market share and its margins are likely to decline.

Warby Parker – Shares in the eyewear brand jumped 4.7% after Goldman Sachs initiated a stock buy. In addition to the strength of the company’s brand, Goldman also mentioned expanding its market presence and capturing market share.

– CNBC’s Yoon Lee and Tanaya Mashil wrote the reports.


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