Midday movers: Intel, Pfizer rise; Apple falls
Investing.com -- U.S. stock futures were mixed Monday, with traders cautious ahead of the latest Federal Reserve policy-setting meeting.
Here are some of the biggest U.S. stock movers today:
Pfizer (NYSE: PFE) stock rose 1.8% after the drugmaker said its experimental drug to combat a condition that causes cancer patients to lose their appetite and weight showed positive results in a midstage trial.
Boeing (NYSE: BA) stock fell 1.1%, after falling over 3% on Friday, as a strike by more than 30,000 workers stretched into its fourth day on Monday, with company and union negotiators due to resume talks over a labor contract on Tuesday. The plane maker imposed a hiring freeze to conserve cash.
Intel (NASDAQ: INTC) stock rose 4.6% after Bloomberg reported the chipmaker has officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the U.S Department of Defense.
Tesla (NASDAQ: TSLA) stock fell 0.7% despite an increase in registrations in July, propelled by 5,175 deliveries of Cybertruck, according to S&P Global Mobility data.
Apple (NASDAQ: AAPL) stock fell 2.7% after initial demand for the tech giant's iPhone 16 series appears underwhelming, according to analysts at Jefferies, Citi, and others.
Target (NYSE: TGT) stock rose 0.3% after the retailer said it would hire about 100,000 seasonal employees, in-line with what it had hired for the last three years, as the retailer gears up for its all-important holiday period.
Apollo Global Management (NYSE: APO) stock rose 1% after the asset manager and BP (NYSE: BP), up 0.2%, announced a $1 billion deal to fund the British energy giant's stake in the Trans Adriatic natural gas pipeline.
Trump Media & Technology Group (NASDAQ: DJT) stock fell 4.2%, paring Friday’s near 12% gains, after former President Donald Trump said he won’t sell shares of the social media company when the lockup period ends. Trump survived an apparent second assassination attempt on Sunday, weeks before the closely watched U.S. presidential election.
Micron Technology (NASDAQ: MU) fell 4% after analysts at Morgan Stanley said the memory market appears oversupplied.
Oracle (NYSE: ORCL) rose 5% after analysts at Melius upgraded the stock, citing EPS growth.
Additional reporting by Louis Juricic