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Midday movers: Boeing, Micron, Tesla and more

November 28, 2023 8:08 AM EST
(Updated - November 28, 2023 12:30 PM EST)

Investing.com -- 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


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