Tesla, Coinbase, Tyson Foods, more

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The Tesla logo seen on a Supercharger battery fast charging station for the electric vehicle company Tesla Motors.

SOPA Pictures | LightRocket | Getty Images

Find out which companies are making the midday headlines.

Diamondback Energy – Shares of the exploration and production company fell about 3% amid falling oil prices. At one point on Monday, futures on West Texas Intermediate crude, the benchmark for U.S. oil, fell more than 4%. NOV, Occidental and Schlumberger fell about 2%. Pioneer Natural Resources and Devon Energy each fell about 1.7%.

Tesla – Electric vehicle inventory rose more than 2% after Jefferies upgraded the company to buy suspension. The Wall Street firm said Tesla was “leading the dynamics of earnings and capital allocation.” Jefferies raised his price target to $ 850 per share from $ 700.

Coinbase – Shares of the cryptocurrency exchange jumped about 7.2% ahead of its quarterly earnings report, which it will release on Tuesday. Since Coinbase generates most of its revenue from trading, the share price is closely tied to the price of bitcoin, which hit $ 46,000 on Monday for the first time since May and has surpassed its 200-day moving average.

Robinhood – Shares of the new public online brokerage firm climbed nearly 4% by midday Monday. Robinhood shares have been volatile since its IPO and have gained the attention of retail investors.

Tyson Foods – Tyson Foods shares rose 8.3% after the beef and poultry producer released a better-than-expected quarterly earnings report. The company posted quarterly earnings of $ 2.70 per share, well above the consensus estimate of $ 1.62 per share, according to Refinitiv.

Sanderson Farms – Shares of Sanderson Farms jumped 7.2% after the poultry farmer said it would be acquired by private food producer Cargill and farm investment firm Continental Grain for $ 203 a share. The all-cash transaction represents an 11.3% premium over the closing share price on Friday.

Victoria’s Secret – Shares of Victoria’s Secret rose 7.2% after JPMorgan Chase launched the lingerie retailer’s cover with an overweight rating. The company said the current share price was a “compelling entry point” and noted the company is the leading market share player in the lingerie category.

Darden Restaurants – Shares of the restaurant company fell more than 4% after Evercore ISI lowered the stock to be in line to outperform. The company said in a note to customers that inflation, including rising wages, will hurt the stock as the economic recovery progresses.

– CNBC’s Tanaya Macheel, Maggie Fitzgerald, Jesse Pound and Yun Li contributed reporting

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