Midday movers: Nike and Accolade fall; Humana and Infinera rise
Investing.com -- U.S. stock futures rose Friday after the Commerce Department released inflation data that hinted at more cooling, lifting hopes for interest rate cuts from the Fed beginning in September.
Here are some of the biggest U.S. stock movers today:
Nike (NYSE: NKE) stock fell 19% after the sportswear retailer forecast revenue to fall by 10% in the current quarter. Sales in the ongoing fiscal year are also seen decreasing by a percentage in the mid-single digits.
Trump Media & Technology Group (NASDAQ: DJT) stock fell 1.7% despite a CNN’s flash poll showed that the Republican candidate outperformed US President Joe Biden in the first presidential debate held on Thursday.
Infinera (NASDAQ: INFN) stock soared 18% after Nokia (HE:NOKIA) announced plans to buy the U.S. optical networking gear maker in a $2.3 billion deal, putting the Finnish company on track to gain from the billions of dollars in investment pouring into data centers to cater to the rise of artificial intelligence.
Accolade (NASDAQ: ACCD) stock fell 43% after the healthcare company reported weaker-than-expected guidance for the upcoming quarter and fiscal year.
Alphabet (NASDAQ: GOOGL) stock fell 0.8% after Reuters reported that Italy is asking the tech giant’s Google unit to pay €1 billion ($1.07 billion) in unpaid taxes and penalties, seven years after the U.S. company settled a landmark tax dispute with Rome authorities. The stock was also downgraded to 'neutral' from 'buy' by analysts at Rosenblatt.
Moderna (NASDAQ: MRNA) stock fell 1% despite news that the drugmaker’s respiratory syncytial virus (RSV) vaccine received a positive opinion from an advisory panel to the European Union’s medical regulator for adults aged 60 and older.
Berkshire Hathaway (NYSE: BRKa) stock fell 0.25% after the investment conglomerate stated that legendary investor Warren Buffett will donate up to $5.3 billion of the company's shares to five foundations.
Humana (NYSE: HUM) and UnitedHealth Group (NYSE: UNH) gained after analysts said Trump's strong performance in yesterday's presidential debate bodes well for managed care names given potential for a better regulatory backdrop. HCA Holdings (NYSE: HCA), Universal Health (NYSE: UHS) and other health care providers declined.
Additional reporting by Louis Juricic