Blue Owl Slumps, Tesla Falls, Chevron Rises as Energy Stocks Rebound on Trump's Iran Comments
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Show Notes
On this episode of Stock Movers:
- Blue Owl (OWL) shares slump. Blue Owl Capital said it will limit redemptions from two of its private credit funds after facing a surge in withdrawal requests.
The company’s peers Blackstone Inc., Apollo Global Management Inc., KKR & Co Inc., Ares Management Corp. all fell by around 3%.
- Tesla (TSLA) shares fall. Tesla Inc. posted one of its worst sales quarters in years, missing Wall Street’s expectations, as the carmaker struggles to turn around its core business and navigate an increasingly challenged electric-vehicle market.
- Chevron (CVX) shares are up. Shares in energy companies are rebounding after US President Donald Trump dashed the hopes that the war in Iran is nearing a swift resolution. Meanwhile, travel, mining, semiconductor and crypto stocks are falling as the conflict and higher energy prices weigh on investor sentiment.
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