Back to mobile site

Midday movers: Nvidia, Affirm Holdings, and more

December 19, 2023 8:07 AM EST
(Updated - December 19, 2023 12:01 PM EST) -- Main U.S. indexes rose Tuesday on optimism of interest rate cuts next year. The S&P 500 climbed to its higher level of the year, putting it within striking distance of the all-time high.

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

Apple (NASDAQ: AAPL) stock rose 0.3% even after the tech giant said it would pause sales of its Series 9 and Ultra 2 smartwatches in the United States from this week, as it deals with a patent dispute over the technology that enables the blood oxygen feature on the devices.

Alphabet (NASDAQ: GOOGL) stock rose 0.5% despite its Google unit agreeing to pay $700 million to settle a lawsuit brought against the search giant by U.S. states and consumers over anticompetitive practices at its Play app store on Android devices.

Tesla (NASDAQ: TSLA) stock rose 1.9% after CNBC reported the EV manufacturer is planning a 10% or greater pay rise for some set-rate hourly employees at its battery factory in Nevada, a move that could help Tesla persuade workers at the site not to form a union and demand a collective agreement.

Accenture (NYSE: ACN) stock fell 0.3% after the IT consultant said it expects revenues in its current quarter to be lower than the prior three-month period due to negative currency effects, although tailwinds remained from hype around artificial intelligence.

Boeing (NYSE: BA) stock rose 1.6% after the German carrier Lufthansa ordered 40 737 planes, for the first time since 1995.

PepsiCo (NASDAQ: PEP) stock fell 0.6% after JPMorgan downgraded its stance on the soft drinks giant to ‘neutral’ from ‘overweight’, citing "limited room for positive surprises."

Plug Power (NASDAQ: PLUG) stock fell 1% after Piper Sandler downgraded the hydrogen fuel cell firm to ‘underweight’ from ‘equal weight’.

Heico (NYSE: HEI) stock rose 1% after the aerospace and electronics company posted better-than-expected sales results for its fourth quarter.

UBS (NYSE: UBS) stock rose 5% after Cevian Capital announced it has taken a 1.3% stake in the Swiss lender, with the activist investor group seeing "significant value potential."

Affirm Holdings (NASDAQ: AFRM) shares rose 13% after the buy-now, pay-later company announced it has expanded its partnership with Walmart (NYSE: WMT). Affirm’s flexible pay-over-time options will become available to self-checkout kiosks across over 4,500 Walmart stores in the United States.

Marathon Digital Holdings, Inc. (NASDAQ: MARA) climbed 9% after it entered into a definitive purchase agreement to acquire two currently operational Bitcoin mining sites, totaling 390 megawatts of capacity, from subsidiaries of Generate Capital, PBC for a total of $178.6 million.

NVIDIA (NASDAQ: NVDA) declined 2% following a note from Edgewater Research suggesting potential for mixed AI/GPU demand in the short term, though long-term demand remains strong.

Kenvue (NYSE: KVUE) climbed 4% following a court's favorable ruling in a class action lawsuit related to Tylenol.

By Louis Juricic and Peter Nurse

You May Also Be Interested In

Related Categories

General News, Hot List, Investing, Special Reports

Related Entities

UBS, JPMorgan, Standard & Poor's, Tesla, Definitive Agreement, Bitcoin