Shares in electric vehicle marker Tesla surged 6% in Monday's session to close at a new high of $463 and was up nearly 2% more in pre-market trading on Tuesday.
The stock is up nearly 19% over the past five days alone, with Tesla CEO Elon Musk's connection to US president Donald Trump acting as a catalyst for shares.
Musk, a major supporter of Trump election campaign, has been appointed to co-lead the extra-governmental Department of Government Efficiency (DOGE). Investors believe that Trump's return to the White House could offer a potentially more supportive policy environment for Tesla.
Wall Street analysts have subsequently been raising their price targets on the stock and Wedbush Securities' Dan Ives made a particularly bullish call on the stock on Monday.
He upped his price target to $515 (£406) from $400 a share in a note to clients on Monday.
“We estimate the AI and autonomous opportunity is worth at least $1 trillion alone for Tesla and we fully expect under a Trump White House these key initiatives will now get fast tracked," he said.
While key metrics topped expectations, investors were disappointed by a decline gross margins and the company's guidance on revenue, fuelling concerns over slowing growth.
Even so, Nvidia shares are still up 167% year-to-date and analysts have remained confident about the company's prospects.
For example, investment bank Morgan Stanley (MS) had a "overweight" rating on the stock in its note on 21 November, saying it remained analysts' top pick in the semiconductor space and upped their price target on the stock from $160 to $168 per share.
"We see our opportunity over the next three years in AI as massive," said Tan.
Analysts have raised their price targets on the stock following the results. Deutsche Bank maintained a "buy" rating on the stock on Friday but raised its price target from $190 to $240. Meanwhile, Barclays kept an "overweight" rating on the stock on Monday but raised its price target to $205 from $200.
The Competition and Markets Authority (CMA) said on Tuesday morning that it had cleared the anticipated acquisition, having launched an inquiry into the deal in October.
Shares in Carlsberg were down 1% on Tuesday morning, while Britvic's stock was up nearly 1%.
The deal is expected to close on 16 January, according to a PA Media report.
A Carlsberg spokesman reportedly said: "We believe the combination of Carlsberg and Britvic will create a highly attractive multi-beverage supplier in the UK, with an efficient supply chain and distribution network that provides our customers with a portfolio of market-leading brands and world-class service."
Shares in UK firm Bunzl – which distributes products to companies ranging from paper towels to personal protective equipment (PPE) – were down nearly 5% on Tuesday morning.
Bunzl said it expected deflation to be more persistent than previously expected and anticipated that it would have a "slight impact" on group adjusted operating profit in 2024.
In its pre-close statement for the year, Bunzl said it expected group revenue to come in 3% higher than in 2023 and forecast "robust" revenue growth in 2025.
Russ Mould, investment director at AJ Bell (AJB.L), said: "It's rare to see Bunzl doing anything other than plod along so a warning from the distribution company has caught the market by surprise.
"Bunzl supplies items needed by companies to do their work but nothing that’s sold to customers, making it an essential cog in the wheel," he said.
"It makes a small margin on supplying products, but a deflationary environment can act as a headwind if it has already bought a lot of stock at higher prices and has to sell them for less than originally expected."
Other companies in the news on Tuesday 17 December:
