Close

Midday movers: AMD, Alphabet, and more

December 7, 2023 9:11 AM EST
(Updated - December 7, 2023 12:13 PM EST)

Investing.com - Main U.S. indexes were higher on Thursday as enthusiasm surrounding artificial intelligence returned after Google’s parent released an advanced AI model called Gemini. Nasdaq led the S&P 500 and Dow ahead of the all-important nonfarm payrolls report later in the week.

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

GameStop (NYSE: GME) climbed 2% after the video game retailer reported mixed third-quarter results.

Shares in C3.ai (NYSE: AI) slumped by around 11.3% after the AI application software group guided for a full-year adjusted operating loss of $115 million to $135 million, deeper than its prior forecast of $70 million-$100 million.

Chewy (NYSE: CHWY) shares declined 2.5%. The online pet-care retailer trimmed its annual sales outlook due to inflationary pressures that have dented customer demand.

Advanced Micro Devices (NASDAQ: AMD) stock rose 7% following the chipmaker's introduction of new accelerator chips targeted at competing in the lucrative artificial intelligence (AI) market, where Nvidia (NASDAQ: NVDA) currently dominates.

Dollar General (NYSE: DG) stock declined 0.7% following the release of third-quarter earnings that exceeded average analyst estimates. The retailer noted 'significant' inventory headwind.

Sprinklr (NYSE: CXM) shares fell by almost 32% after analysts said that the software start-up's early 2025 outlook points to a "major deceleration."

Google’s parent Alphabet (NASDAQ: GOOGL) advanced 6% following the release of Gemini, its largest and most capable AI model to date.

Cerevel Therapeutics (NASDAQ: CERE) stock climbed 13% after it agreed to be acquired by AbbVie Inc. (NYSE: ABBV) for $45 per share in cash, or $8.7 billion.

Rivian (NASDAQ: RIVN) climbed 2% after Stifel initiated coverage of the company with a Buy rating and a 12-month price target of $23.

Jetblue (Nasdaq: JBLU) climbed 13% after it raised its EPS guidance for the fourth quarter due to strong operational performance during the month of November.

By Louis Juricic and Peter Nurse


You May Also Be Interested In





Related Categories

General News, Hot List, Investing, Special Reports

Related Entities

Stifel, Standard & Poor's, Earnings