Tesla, Paramount Global, Spirit Airlines, and More

The Dow, S&P 500, and Nasdaq were little changed at midday ahead of inflation data due later this week that could shed light on where interest rates are headed.

Tesla (TSLA) shares surged after CEO Elon Musk said the electric vehicle (EV) maker’s robotaxi will be unveiled Aug. 8.

Shares of Spirit Airlines (SAVE) jumped as the carrier deferred delivery of Airbus jets and announced pilot furloughs in a cost-cutting move.

Camden Property Trust (CPT) shares gained along with shares of rival real estate investment trust (REIT) Apartment Income REIT (AIRC) after Blackstone (BX) agreed to pay about $10 billion to take Apartment Income REIT private.

Paramount Global (PARA) shares dropped as investor Matrix Asset Advisors raised concerns about the bid by David Ellison Skydance Media to gain controlling interest in the entertainment giant.

Shares of Solventum (SOLV) lost ground as Wells Fargo warned the healthcare spinoff of 3M (MMM) may have too much debt to make strategic acquisitions, and could lack upcoming catalysts that would lift it above competitors.

Oil futures fell and the price of gold climbed. The yield on the 10-year Treasury note was up. The U.S. dollar advanced against the yen, but slipped versus the euro and pound. Most major cryptocurrencies traded higher as Bitcoin moved above $72,000 for a short period.