By Liz Moyer
Investing.com -- Stocks are rising on Monday ahead of testimony by Federal Reserve Chair Jerome Powell in Congress starting Tuesday. Here are the midday movers for March 6.
- Norfolk Southern Corporation (NYSE:NSC) shares fell 1.8% after a second derailment over the weekend, also in Ohio, though this time there were no hazards, officials said. Safety regulators were heading to the site of the derailment, reports said.
- Apple Inc (NASDAQ:AAPL) shares rose 3% after Goldman Sachs initiated the stock as a buy, citing recurring revenue from services and its installed customer base.
Tesla Inc (NASDAQ:TSLA) shares were down 2.4% after the electric vehicle maker cut prices for the second time this year. It is cutting prices for its Model S and Model X, its more expensive vehicles.
- BridgeBio Pharma Inc (NASDAQ:BBIO) shares rose 57% after the pharmaceutical maker said it had positive results from a phase 2 trial of a drug to treat a type of Dwarfism.
Silvergate Capital Corp (NYSE:SI) shares were up 4% after the crypto bank ended its Silvergate Exchange Network, just days after it raised doubts about its ability to continue operations.