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Midday movers: CVS Health, Apple, and more

December 5, 2023 8:29 AM EST

(Updated - December 5, 2023 12:14 PM EST)

Investing.com – Main U.S. indexes were mixed on Tuesday. Data on job openings in October hinted at easing of labor demand, fueling hopes the Fed would consider lowering interest rates before the middle of next year, but investors were cautious ahead of Friday’s official November payrolls number.

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

Take-Two Interactive Software (NASDAQ: TTWO) stock fell 1.8% after the video game company released the first trailer for its highly-anticipated "Grand Theft Auto VI" title, saying it "coming 2025", later than previously expected.

Gitlab (NASDAQ: GTLB) stock soared 13% after the open-source cloud repository company reported better-than-expected third quarter results and offered healthy guidance.

CVS Health (NYSE: CVS) stock rose 4% after the healthcare conglomerate forecast 2024 revenue above estimates, expecting to benefit from its expansion into healthcare services and strength in its insurance business.

Johnson & Johnson (NYSE: JNJ) stock declined 0.1% after the drugs company forecast revenue growth of 5%-6% for the next year, as it banks on strong demand for cancer treatments Darzalex and Carvykti and resilient sales of blockbuster drug Stelara.

Ermenegildo Zegna (NYSE: ZGN) stock rose 1.7% after the Italian fashion group said it aims to grow its sales on average by more than 10% annually over the medium term, with profit rising twice as fast, after it bought U.S. brand Tom Ford (NYSE: F) earlier this year.

Designer Brands (NYSE: DBI) stock slumped over 30% after the footwear retailer cut its full-year guidance, saying the footwear market has contracted for the first time since the pandemic amid unseasonably warm weather.

JM Smucker (NYSE: SJM) stock rose 5% after the food packaging giant slashed its full-year financial guidance, citing the impact of its $5.6 billion acquisition of Hostess Brands (NASDAQ: TWNK), although it still posted better-than-anticipated second-quarter income.

Procter & Gamble (NYSE: PG) declined 2.8% after it announced a limited market portfolio restructuring of its business operations, primarily in certain Enterprise Markets, including Argentina and Nigeria, to address challenging macroeconomic and fiscal conditions.

Apple (NASDAQ: AAPL) climbed 2.1% after data suggested App Store revenue increased 11.3% year-on-year in its fiscal first quarter. Analysts at BofA referred to the data, originally compiled by analytics firm SensorTower, as “promising” in a note to clients.

Tesla (Nasdaq: TSLA) stock climbed 3.1% on heavy volume as positive momentum returned following a blip lower after its Cybertruck event last week.

By Louis Juricic and Peter Nurse


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