Midday movers: Goldman Sachs and Meta Platforms rise; Apple and Tesla fall

April 15, 2024 8:21 AM EDT
(Updated - April 15, 2024 11:31 AM EDT) -- Main U.S. indexes were mixed on Monday as investors remained cautious after the previous week’s sharp losses, ahead of the ramping up of the quarterly earnings season.

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

Goldman Sachs (NYSE: GS) stock rose 3% after the banking giant reported a 28% rise in profit in the first quarter, buoyed by a recovery in debt underwriting and dealmaking that boosted its investment banking unit.

Apple (NASDAQ: AAPL) stock fell 0.75% after data from research firm IDC indicated that the iPhone maker has lost its crown as the world’s No.1 phone maker, with Samsung (KS:005930) regaining that spot in the wake of Apple’s weak first quarter.

Meta Platforms (NASDAQ: META) stock fell 0.5% despite the tech giant stating that it would temporarily shut down its social media platform Threads in Turkey from April 29 to comply with an interim order of the Turkish competition authority.

Tesla (NASDAQ: TSLA) stock fell 3% following reports that the EV manufacturer may be about to announce large scale redundancies as it grapples with worsening sales.

Salesforce (NYSE: CRM) stock fell 5.4% after Reuters reported that the customer relations software maker was in advanced talks to acquire Informatica (NYSE: INFA), down 7.7%.

Reddit (NYSE: RDDT) stock fell 5.6%, with JPMorgan and Morgan Stanley starting coverage on the social media company with the equivalent to "hold" ratings, as they wait for clarity on the social media company's user growth, while staying bullish on ad-revenue growth and artificial intelligence initiatives.

Piedmont Lithium (NASDAQ: PLL) ADRs rose nearly 23% after the miner said that it had received a long-delayed permit for starting the construction of its lithium mine from North Carolina regulators.

Charles Schwab (NYSE: SCHW) shares rose 3% after it published results for its first quarter that were about in-line with expectations. Management highlighted several encouraging data points during its conference call, analysts noted.

Centene (NYSE: CNC) gained 3.3% after holding onto a statewide Florida Medicaid award. Investors were expected it to lose market share in the state.

Additional reporting by Louis Juricic

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