Midday movers: Estee Lauder, HP Inc fall; AMD rises
Investing.com -- U.S. stock futures traded higher Monday, consolidating after the previous week’s strong gains and ahead of the release this week of the minutes from the latest Federal Reserve meeting.
Here are some of the biggest U.S. stock movers today:
Estee Lauder (NYSE: EL) stock rose 0.6% after the cosmetic giant said its long-time CEO Fabrizio Freda had decided to retire from next year.
Advanced Micro Devices (NASDAQ: AMD) stock rose 2.8% after the chipmaker said it plans to acquire server maker ZT Systems for $4.9 billion as the company seeks to expand its portfolio of artificial intelligence chips and hardware.
B. Riley Financial (NASDAQ: RILY) stock fell 6% following a more than 65% drop last week. Co-founder and co-CEO Bryant Riley had offered to buy the bank on Friday, following its warning of a hit from its investment in Vitamin Shoppe-owner Franchise Group (NASDAQ: FRG).
Dutch Bros (NYSE: BROS) stock fell 2.25% after brokerage Piper Sandler downgraded the coffee chain's rating to ‘neutral’ from ‘overweight’, saying recent industry traffic and promotional environment trends could offset tailwinds boosting the company's speed to become free cash flow positive.
Fubotv stock rose 30% after a federal judge granted the sports streaming service’s motion for a preliminary injunction against the planned sports streaming venture by ESPN, Fox and Warner Bros Discovery (NASDAQ: WBD).
Liquidia Technologies (NASDAQ: LQDA) stock fell 38% after the U.S. Food and Drug Administration on Monday granted a tentative approval to the company’s drug for patients with a type of lung disorder, but stopped short of a traditional approval.
HP Inc. (NYSE: HPQ) fell 3.1% after analysts at Morgan Stanley downgraded the stock to 'equal-weight' from 'overweight', citing limited upside.
McDonald's (NYSE: MCD) rose 3% after Evercore ISI increased its price target on the stock to $320 while maintaining an outperform rating. Analysts said its US brand appears poised for recovery.
Additional reporting by Louis Juricic