Stocks on the move: Facebook to lease new building in New York, BP posts $17B loss

Yahoo Finance's Adam Shapiro breaks down the stocks to watch Tuesday.

Video Transcript

ADAM SHAPIRO: Right now as we head to break, we're watching some stocks which are on the move. Facebook essentially flat. It was down 1/4 of a percent at the opening bell. They announced they signed a lease with Renato Realty Trust to lease an historic post office building here in Manhattan. It's a huge building, actually. It's right across from Penn Station, 730,000 square feet. They're taking the entire building's office space. And they intend to be moving in there by 2021. Also want to let you know that Renato, their shares are trading higher right now at about 6%.

The other stock we're watching right now, British Petroleum. Shares were up at the opening bell about 5% even though they have their shareholder dividend. They posted a $17 billion loss in the quarter. They had a $1.8 billion profit the same period last year. They're planning to lay off quite a number of people. They already announced 10,000 job cuts. Year to date, the stock is down 41%. And a lot of that has to do with demand destruction in oil.