Midday movers: Pfizer, Ulta Beauty, UiPath and more

December 1, 2023 8:10 AM EST
(Updated - December 1, 2023 12:06 PM EST) -- Main U.S. indexes climbed following a speech from Fed Chair Jerome Powell. Powell said the Fed needs to move carefully on interest rates with risks more balanced, striking a slightly dovish tone.

Here are some of the biggest U.S. stock movers today:

Walt Disney (NYSE: DIS) stock erased a pre-open gain and declined 0.6%. The entertainment giant announced plans to reinstate its dividend with a 30-cent per share payout for the second half of its fiscal year, signaling a recovery phase after the pandemic-induced hiatus.

Tesla (NASDAQ: TSLA) stock fell 1% after the electric-vehicle maker started deliveries of its Cybertruck electric pickup on Thursday, with a starting price of $60,990, above its original forecast.

Alibaba (NYSE: BABA) ADRs fell 2% after Morgan Stanley downgraded the e-commerce giant to ‘equal weight’ from ‘overweight’, citing slower turnaround in customer management revenue.

Pfizer (NYSE: PFE) stock fell 4% after the drugs giant scrapped its plan to advance a twice-daily version of its oral weight-loss drug into late-stage studies.

Fisker (NYSE: FSR) stock rose 11% after the electric-vehicle maker said it will scale down production this month, and produce fewer cars this year than its previous guidance, to prioritize cash for working capital needs.

Marvell (NASDAQ: MRVL) stock fell 4.8% after the chipmaker's fourth-quarter revenue forecast fell short of expectations, while also reporting declining third-quarter revenue.

Ulta Beauty (NASDAQ: ULTA) stock soared 12% after the cosmetics retailer raised the lower end of its annual net sales forecast and named Paula Oyibo its new chief financial officer.

UiPath (NYSE: PATH) stock jumped 26% after the automation software firm beat third-quarter revenue estimates, amid strength in the licenses and subscription-services businesses.

Salesforce (NYSE: CRM) stock climbed 3.4%, adding to yesterday’s gain after reporting better than expected earnings and raising guidance.

Dell Technologies (NYSE: DELL) stock declined 5% after it reported disappointing results for the third quarter. EPS topped consensus but a revenue shortfall spooked investors.

By Louis Juricic and Peter Nurse

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