Midday movers: Oracle surges; Boeing falls
Investing.com -- Main U.S. indexes gained after CPI data for February eased concerns about a resurgence of inflation.
Here are some of the biggest U.S. stock movers today:
Oracle (NYSE: ORCL) shares surged nearly 11% after clocking stronger-than-expected quarterly earnings thanks to increased demand for its AI offerings.
Boeing (NYSE: BA) shares slipped 3.3% after authorities in Chile said they had started an investigation into a Latam flight of a Boeing 787 Dreamliner that suffered a "strong movement" during a journey from Sydney to Auckland.
Southwest Airlines (NYSE: LUV) shares dropped 14% after the carrier said it would post a net loss in the first quarter due to slower than anticipated aircraft deliveries from Boeing.
Acadia Pharmaceuticals (NASDAQ: ACAD) dropped 16% after the pharmaceutical group ditched plans to conduct further trials of its pimavanserin drug after a Phase 3 study failed to meet its primary endpoint.
3M (NYSE: MMM) shares rose 4% after the conglomerate named William Brown as its new Chief Executive Officer.
Carvana (NYSE: CVNA) shares edged higher after Jefferies raised their estimate of the used car dealer to "Hold."
IBM (NYSE: IBM) rose 3.7% after BofA Securities reiterated a ‘buy’ rating on the stock.
On Holding (NYSE: ONON) declined 14% after the footwear and sports apparel company posted fourth quarter net sales below analyst estimates.
American Airlines (NASDAQ: AAL) declined 4% after telling investors its sees EPS at the low end of guidance in the first quarter.
Additional reporting by Louis Juricic