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Lucid reached a supply agreement with luxury car maker Aston Martin.
Lucid
Stock futures were falling slightly Monday after the
S&P 500
declined 1.4% last week for its worst weekly performance since early March. Oil prices were steady following a weekend of chaos in Russia.
These stocks were poised to make moves Monday:
Lucid Group
(ticker: LCID) was rising 7.7% after it reached a supply agreement with Aston Martin, the British luxury car maker, to build high-performance electric vehicles. Under the agreement,
Lucid
will supply Aston Martin with “industry-leading electric-vehicle technologies.” Aston Martin will issue 28.4 million new ordinary shares to Lucid, making Lucid a shareholder of about 3.7% in Aston Martin.
PacWest Bancorp
(PACW) gained 7.1% after the regional bank said it agreed to sell a $3.5 billion specialty finance loan portfolio to investment manager
Ares Management
(
ARES
).
Moderna
(MRNA) gained 2.5% to $121.47 after shares of the vaccine maker were upgraded to Buy from Neutral at UBS. UBS reduced the price target on the stock to $191 from $221.
Tesla
(TSLA) was declining 1.8% to $252.01. Shares of the electric-vehicle giant have risen more than 108% this year, and about 33% over the past one month. Analysts at Goldman Sachs downgraded the stock to Neutral from Buy following the stock’s rally….
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