Midday movers: Coinbase, Yext fall; Apple, GM rise

June 11, 2024 8:12 AM EDT
(Updated - June 11, 2024 12:17 PM EDT) -- U.S. stock futures slipped lower Tuesday, amid caution ahead of the release of inflation data and the start of the latest Federal Reserve meeting.

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

  • Apple (NASDAQ: AAPL) stock rose 5.9% after the tech giant unveiled a long-awaited AI strategy, integrating its new "Apple Intelligence" technology across its suite of apps including Siri and bringing OpenAI's chatbot ChatGPT to its devices.

  • General Motors (NYSE: GM) stock rose 2.25% after the auto giant’s board has authorized a fresh $6 billion stock repurchase plan.

  • Tesla (NASDAQ: TSLA) stock fell 3% on concerns that its robotaxis are still years away.

  • Eli Lilly (NYSE: LLY) stock fell 0.7% despite news that its Alzheimer's drug donanemab received unanimous backing from an FDA panel.

  • Coinbase (NASDAQ: COIN) stock fell 4.6%, with the cryptocurrency exchange hit hard by the 4.5% fall in the price of bitcoin, the most popular digital currency. Marathon Digital Holdings (NASDAQ: MARA), Riot Platforms (NASDAQ: RIOT) and Microstrategy (NASDAQ: MSTR) were also lower.

  • Yext (NYSE: YEXT) stock fell 5% after the digital presence platform for multi-location brands announced its plan to acquire Hearsay Systems, a leading digital client engagement service for the financial sector, for $125 million. It also lowered full year revenue guidance.

  • Calavo Growers (NASDAQ: CVGW) stock rose 10% after the leading avocado industry player reported a substantial beat on both earnings and revenue for its fiscal second quarter.

  • NextEra Energy (NYSE: NEE) declined 6% after it provided guidance for 2027 EPS, saying it now expects 2027 adjusted earnings per share to be in the range of $3.85 to $4.32.

  • AppLovin (NASDAQ: APP) declined 9% on concerns about changes to Apple's ad attribution framework.

Additional reporting by Louis Juricic

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