Midday movers: Dell, NetApp rise; Boeing falls

March 1, 2024 8:08 AM EST
(Updated - March 1, 2024 11:09 AM EST) -- Main U.S. indexes edged higher Friday, starting the new month off on a positive note after strong gains in February.

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

Dell (NYSE: DELL) stock jumped 26% after the tech giant reported fourth-quarter results that topped Wall Street as solid demand for its artificial intelligence-optimized servers offset weakness in personal computing.

Apple (NASDAQ: AAPL) stock fell 1.5% after Goldman Sachs removed the tech giant from its “Conviction List - Directors' Cut,” the bank’s selection of top buy-rated stocks.

Fisker (NYSE: FSR) stock slumped 46% after the electric-vehicle startup flagged going-concern risks, saying it would cut its workforce by 15% and pause investments in future projects.

NetApp (NASDAQ: NTAP) stock rose 24% after the intelligent data infrastructure company reported solid growth and record profitability in its third quarter.

New York Community Bancorp (NYSE: NYCB) stock fell 22% after the embattled regional lender said it had found "material weaknesses" in company controls related to an internal loan review.

Plug Power (NASDAQ: PLUG) stock fell 2.5% after the hydrogen fuel cell system developer disclosed 2023 results that missed expectations but said it resolved the “going concern” issues.

Autodesk (NASDAQ: ADSK) stock rose 2% after the 3D design software maker delivered better-than-expected quarterly results and issued an encouraging sales outlook amid healthy demand from enterprise and entry-level customers.

Zscaler (NASDAQ: ZS) stock fell 8.5% despite the cloud security platform reporting better-than-expected results for the January quarter, with its guidance disappointing the market.

Xcel Energy (NASDAQ: XEL) stock fell 6%, extending yesterday’s decline amid concerns about potential liability from wildfires in Texas.

Keurig Dr Pepper Inc. (NASDAQ: KDP) stock fell 2% after pricing an offering of 87 million shares by its largest holder, JAB Investments.

Spirit AeroSystems (NYSE: SPR) gained 15% and Boeing (NYSE: BA) declined 2% after WSJ reported Boeing is in talks to acquire the fuselage supplier.

Additional reporting by Louis Juricic

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