Midday movers: Boeing, Micron, Tesla and more

November 28, 2023 8:08 AM EST
(Updated - November 28, 2023 12:30 PM EST) -- Main U.S. indexes rose after comments from a number of Fed officials reinforced the idea that inflation is slowing and lifted hopes of a potential rate cut next year.

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

Affirm Holdings (NASDAQ: AFRM) stock rose 7.5% with the buy now, pay later company expected to benefit from strong Cyber Monday sales.

Zscaler (NASDAQ: ZS) was up 0.5% after bouncing off early lows. The stock sank 6.6% overnight after the cybersecurity company kept its full-year billings forecast unchanged even after it topped estimates with its results for the latest quarter.

Avidity Biosciences (NASDAQ: RNA) stock climbed 13% after Bristol-Myers Squibb (NYSE: BMY) announced it was taking a stake in the biotech company as part of a broader licensing and research deal.

PDD Holdings (NASDAQ: PDD) stock soared 18% after the Chinese e-commerce firm, formerly known as Pinduoduo (NASDAQ: PDD), posted better than anticipated sales in the third quarter.

Canada Goose (NYSE: GOOS) stock rose 2.3% after the company which makes primarily winter clothing acquired its first European manufacturing plant in Romania.

General Motors (NYSE: GM) stock rose 0.9% after the Financial Times reported that the auto giant will scale back spending on its self-driving unit Cruise, after a pedestrian accident last month.

Adobe (NASDAQ: ADBE) stock gained 0.4% after the U.K.’s competition regulator said the company’s $20 billion Figma purchase raises competition concerns.

Boeing (NYSE: BA) stock rose 1.9% after RBC Capital Markets upgraded the aerospace company to ‘outperform’ from ‘sector perform’, citing a “significant shift in sentiment”.

Micron Technology (NASDAQ: MU) shares declined 2.75% after it revised its guidance for the first quarter of fiscal 2024. The company now expects revenue to approach $4.7 billion, up from the prior forecast of $4.2-4.6 billion. The upward revision to guidance was viewed by some investors as modest.

Tesla (Nasdaq: TSLA) shares climbed 2.6% ahead of its Cybertruck event on Thursday, November 30.

United States Steel (NYSE: X) climbed 2% following a report from CNBC that said five different parties are expected to bid for the company. Bids are due Friday.

By Louis Juricic and Peter Nurse

You May Also Be Interested In

Related Categories

Hot List, Investing, Special Reports

Related Entities

RBC Capital, Tesla