It isn't often that technical issues on a digital platform like Netflix (NFLX) are met with a jump in share price, but news over the weekend that the site is a legitimate takeover target for Disney (DIS) sent shares rising more than 4% Monday afternoon. However, the site was down for nearly three hours Saturday afternoon as users around the globe reported losing service.
Netflix shares have dipped in 2016 and investors continue to be concerned about the company missing subscriber growth expectations. For the current quarter, Netflix guided for 300,000 net U.S. subscriptions. Netflix reports its third-quarter results on Oct. 17.
Tesla (TSLA) shares were revved up Monday after the electric vehicle maker reported its best quarter for deliveries. The company's Model S vehicle helped lead the company to 24,000 deliveries in the quarter vs. Wall Street's consensus expectations of 23,000. The company's $66,000 Model S accounted for 15,800 of those deliveries.
Amid national calls for police accountability, the body camera market has exploded in recent months, sending shares of portable camera makers like TASER International (TASR) soaring. However, the stock was tanking Monday following a New York Daily News report that the NYPD reached a multyear, $6 million deal to purchase body cams from TASER rival Vievu. The company will supply the country's largest police force with 1,000 body cameras, as well as tech support. TASER was downgraded to Neutral from Buy by analysts at Ladenburg Thalmann.
Dow Chemical (DOW) shares were climbing after seeing their rating upgraded to Buy from Hold by Citi after EU regulators resumed their investigation into the the company's proposed $130 billion merger with DuPont (DD) . The EU had suspended its investigation into the tie-up due to what it said was a lack of significant information provided by the companies. Dow and DuPont shares were both up about 2% Monday afternoon.