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Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall

April 24, 2024 7:43 AM EDT
(Updated - April 24, 2024 11:14 AM EDT)

Investing.com -- Main U.S. indexes were mixed Wednesday, with tech outperforming other sectors.

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

Tesla (NASDAQ: TSLA) stock soared 12% after the electric vehicle manufacturer said it will move forward the timeline for the release of "more affordable" versions of its cars, gaining despite first-quarter results that were below Wall Street estimates.

AT&T (NYSE: T) stock was flat after the telecoms giant reported stronger subscriber growth than expected, while also beating on free cash flow growth in the first quarter.

Visa (NYSE: V) stock added 1% after the credit card giant's second-quarter results sailed past expectations, as consumers shrugged off worries of a slowing economy.

Texas Instruments (NASDAQ: TXN) stock climbed 6.3% after the chipmaker forecast second-quarter revenue above analysts' estimates, signaling an uptick in demand for its analog semiconductors.

Meta Platforms (NASDAQ: META) was flat and Snap (NYSE: SNAP) declined 3% after the U.S. Senate passed a bill that would ban rival TikTok in the United States if its owner, the Chinese tech firm ByteDance, failed to divest the popular short video app.

Biogen (NASDAQ: BIIB) stock rose 5% after the drugmaker beat expectations for first-quarter profit, helped by a series of cost-cutting measures as older drugs face fierce competition.

Humana (NYSE: HUM) stock fell 5% despite the health insurer beating first-quarter profit expectations. Its decision to pulled 2025 guidance weighed on the stock, analysts said.

Hasbro (NASDAQ: HAS) stock rose 12% after the toymaker easily beat profit estimates, as leaner inventories and steady digital gaming revenue helped cushion a drag from softer demand for toys.

Uber (NYSE: UBER) and LYFT (NASDAQ: LYFT) both fell well over 3% after Tesla said it also planned to foray into ride-hailing, via a robotaxi app.

Thermo Fisher (NYSE: TMO) stock fell 1.3% despite the medical equipment maker beating expectations for quarterly profit and raised its annual profit forecast, betting on improved demand for its products and services used in drug development.

Enphase Energy (NASDAQ: ENPH) stock fell 4.5% after the alternative energy company issued soft guidance, illustrating the solar market’s current struggles.

Boeing (NYSE: BA) rose 4% after it reported better-than-expected first-quarter revenue and said it was progressing on its cash flow goals.

Vertiv Holdings Co. (NYSE: VRT) rose 10% after beating estimates in the first quarter on strong order momentum.

Fortive (NYSE: FTV) declined 5% after issuing a disappointing outlook for the second quarter.

Westinghouse Air Brake Technologies (NYSE: WAB) rose 10% after the industrial parts maker delivering strong first quarter EPS and raised guidance.

Old Dominion Freight Line (NASDAQ: ODFL) declined 10% after it reported in-line results in the first quarter, raising concerns given its relatively high valuation.

Additional reporting by Louis Juricic


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