Check out the companies making headlines in midday trading. Tesla – Shares of the electric vehicle maker tumbled more than 7% after its robotaxi event underwhelmed investors . Morgan Stanley analysts noted that the event "overall disappointed expectations" due to a lack of details in several areas, including how the company is going to compete against ride-sharing companies, such as Lyft and Uber . Shares of those names jumped following the event, both surging about 10%.
The investment firm sees increasing profitability ahead for the buy now, pay later company, citing its partnership with Apple Pay and a lower interest rate environment as catalysts for growth. Bank of America – The stock rose nearly 5% despite Warren Buffett's Berkshire Hathaway cutting its stake in the bank to below 10% , which is the threshold that requires frequent disclosure. On Thursday evening, Buffett disclosed the sale of more than 9.
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