U.S. stocks wavered Monday after companies like Tesla (TSLA) - Get Tesla Inc Report witnessed a selloff and investors worried about inflationary pressures on corporate America. Investors also awaited remarks from President Joe Biden's meeting with Chinese leader Xi Jinping later today amid rising tensions between Beijing and Washington.
Here are some companies that took a hit Monday.
1. Oatly OTLY | Down 20.81%
Shares of Oatly (OTLY) - Get Oatly Report tumbled Monday after the oat milk producer reported fiscal third quarter revenue that missed analysts' forecast. Oatly said that scale of production was partially offset, particularly in Ogden, Utah, by Covid Delta-variant led restrictions and temporary foodservice closures in Asia.
2. Tesla TSLA | Down 1.94%
Shares of Tesla (TSLA) - Get Tesla Inc Report came under pressure after he electric vehicle major's founder and chief executive, Elon Musk, sparred with Sen. Bernie Sanders (I-Vermont) on Twitter. On Sunday, Musk responded to Sanders and suggested he may sell more of his Tesla shares.
3. Warner Music WMG | Down 6.2%
Shares of Warner Music (WMG) - Get Warner Music Group Corp. Class A Report dropped after the record label group reported mixed fourth-quarter results. The New York company missed quarterly earnings estimates but exceeded analysts' expectations on revenue.
4. Splunk SPLK | Down 18.14%
“We determined now is the right time to transition to our next phase of leadership - in particular, the board is focused on identifying a leader with a proven track record of scaling operations and growing multibillion-dollar enterprises," Merritt said in a statement.
5. CrowdStrike CRWD | Down 10.6%
Shares of CrowdStrike (CRWD) - Get CrowdStrike Holdings, Inc. Class A Report fell after analysts at Morgan Stanley initiated coverage of the cybersecurity software company at underweight with a price target of $247, citing “growing signs of increased competitive and pricing pressure."