Midday movers: Tesla, Intel, Constellation Energy rise; GM and Nike fall
Investing.com -- US stock futures traded higher Monday, consolidating near record highs ahead of comments from a number of Fed officials as well as key inflation data.
Here are some of the biggest U.S. stock movers today:
Intel (NASDAQ: INTC) stock rose 2% after Bloomberg reported that Apollo Global Management (NYSE: APO) has offered to make an investment of up to $5 billion in the beleaguered chipmaker.
General Motors (NYSE: GM) stock fell 3% after Bernstein downgraded its stance on the auto giant to “market-perform” from “outperform”, citing a risk the company will announce additional capital requirements during its October CMD.
Constellation Energy (NASDAQ: CEG) stock rose 1% after the energy company signed a power deal with Microsoft (NASDAQ: MSFT) to help resurrect a unit of the Three Mile Island nuclear plant in Pennsylvania in what would be the first-ever restart of its kind.
Nike (NYSE: NKE) stock fell 1% after JPMorgan cut its earnings estimates on the sportswear giant ahead of its first quarter results, also cutting its price target to $80 from $83.
Boeing (NYSE: BA) stock rose 0.3%, bouncing after recent losses, despite Jefferies saying the ongoing strike is likely to dent the aerospace giant's plane deliveries this year, cutting its estimate to 422, down from the prior forecast of 480.
Taiwan Semiconductor Manufacturing (NYSE: TSM) stock rose 0.4% after the Wall Street Journal reported that the chipmaker, along with Samsung (KS:005930), is discussing building chip factories in the UAE.
Trump Media & Technology Group (NASDAQ: DJT) stock fell 6%, extending declines from last week, amid fears major shareholders will sell after a recent lockup expired.
Tesla (NASDAQ: TSLA) rose 5% on optimism about its third-quarter deliveries following comments from analysts at Barclays.
Johnson Controls (NYSE: JCI) rose 1.6%, hitting a 52-week high. Shares are up over 30% year-to-date.
Additional reporting by Louis Juricic