Midday movers: Google, Pepsi rise; Boeing, Zillow fall
Investing.com – Main U.S. indexes gained amid strength in megacap tech stocks, led by a 7% surge in shares of Google's parent Alphabet. Investors expect Fed officials to keep interest rates unchanged at a meeting later this week.
Here are some of the biggest U.S. stock movers today:
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) surged 7% on reports Apple (NASDAQ: AAPL) is in talks to build Google's Gemini AI engine into the iPhone. Apple climbed 2.5%.
PepsiCo (NASDAQ: PEP) rose 3% after Morgan Stanley raised its rating on the stock to "overweight" from "equal-weight." Analysts expect a powerful inflection in the second half of the year.
Boeing (NYSE: BA) declined 2%, extending losses from last week, amid ongoing concerns about government probes into the blowout of a 737 Max door plug.
NVIDIA (NASDAQ: NVDA) climbed 2.7% with new chip and software announcements expected at its annual developer conference today.
Micron Technology (NASDAQ: MU) climbed 2% ahead of its second quarter results, which are scheduled to be released on Wednesday.
Tesla (NASDAQ: TSLA) climbed 5%, bouncing off recent lows amid reports the EV OEM will raise prices on its Model Y cars in April.
Zillow (NASDAQ: Z) (NASDAQ: ZG) declined 3.7%, extending last week's fall amid concerns about the impact from changes to real estate commissions.
by Louis Juricic