Supermicro, Tesla Gap and more: Top stock moves now

What you need to know

• U.S. stocks were mixed by midday, as Nasdaq reached a record high thanks to tech stocks.
• Super Micro Computer’s shares surged when the computer maker announced that an internal audit of the company’s accounting practices had found no evidence of misconduct.
• Stellantis’ stock dropped after Carlos Tavares, the automaker’s CEO, abruptly quit.

At midday U.S. stocks were mixed, but the Nasdaq traded at record levels, thanks to tech stocks. The S&P 500 was higher, while the Dow Jones Industrial Average fell.

Super Micro Computer (SMCI), or Supermicro, was the best-performing stock in the S&P 500 after the computer server maker said an internal investigation found no misconduct in the company’s accounting practices. Also, a CFO will be hired.

Roth Capital Partners increased the price of Tesla stock (TSLA), citing Elon Musk’s strong relationship with Donald Trump, President-elect elect. Stifel gave the electric car manufacturer an impressive price target.

Analysts cited positive remarks made by the CEO and CFO of Gap to explain the upgrade.

Stellantis’ (STLA) share price dropped immediately after Carlos Taveras, the CEO of Stellantis and struggling automaker, announced his immediate resignation.

Shares of Pacific Gas & Electric (PCG) slumped when the utility announced a $2.4 billion stock sale.

The shares of Targa Resource (TRGP), and other natural gas companies, fell after U.S. officials reported that their country would enter the winter with more natural gas than in 2016.

Oil futures rose. Gold prices declined. There was not much change in the yield of 10-year Treasury notes. The U.S. currency advanced against euro, pound and yen. Most major cryptocurrencies fell.

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