Top Stock Movers Now: Tesla, Wynn Resorts, Hasbro, and More

Key Takeaways

U.S. equities were mixed at midday as the market weighed the impact of U.S. tax and spending policies. The S&P 500 and Nasdaq fell from their record highs, while the Dow Jones Industrial Average was up.

Tesla ( TSLA ) shares dropped when the feud between CEO Elon Musk and President Donald Trump reignited, with Trump suggesting the government should look into the electric vehicle (EV) maker’s subsidies.

Sweetgreen ( SG ) shares declined on a downgrade and price target cut by TD Cowen, which pointed to weakness in the salad restaurant chain's urban locations.

Shares of AeroVironment ( AVAV ) slid after the military drones manufacturer said it would offer $1.35 billion in stock and convertible notes to help pay for its $4.1 billion purchase of defense tech firm BlueHalo.

Shares of Wynn Resorts ( WYNN ), Las Vegas Sands ( LVS ), and MGM Resorts International ( MGM ) surged after China reported June gambling revenues at Macau casinos were well above expectations.

Packaging Corporation of America ( PKG ) shares gained when the maker of packing material bought the containerboard business from Greif for $1.8 billion.

Shares of Hasbro ( HAS ) climbed on an upgrade from Goldman Sachs, which said the toymaker should benefit from "Magic: The Gathering" card game.

Oil and gold futures rose. The yield on the 10-year Treasury note advanced. The U.S. dollar was up on the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded lower.

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