HomeTechFAANGStock Movers Today: K, TSLA, ADBE, NFLX
Stock Movers Today: K, TSLA, ADBE, NFLX

Kellogg (K) is set to split into three companies. Kellogg’s spin-off businesses represent about 20% of 2021 net sales. Kellogg (K) North America Cereal Company is to have about $2.4B in net sales. The K stock price was trading higher following the news. Next, Alex Coffey weighs in on Tesla (TSLA) reducing workforce by 3.5% and is expected to add hourly staff. Elon Musk states that “a year from now, I think our headcount will be higher.” How does Tesla (TSLA) compare to electric vehicle stocks like Nio Inc. (NIO), Li Auto (LI), and Rivian (RIVN)? Also, Adobe (ADBE) stock was downgraded to equal weight from overweight at Morgan Stanley. The analyst fears that growth going forward will be materially slower. Finally, Netflix (NFLX) stock price target was cut to $240 from $300 at Stifel. The analyst stated that the market may be overlooking a multi-year opportunity for a return to sustainable subscriber growth.

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