Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Midday movers: Microsoft, Xpeng rise; Palo Alto, Zoom fall

Published 2024-05-21, 07:36 a/m
© Reuters
(Updated - May 21, 2024 11:56 AM EDT)

Investing.com -- Main U.S. indexes traded largely flat Tuesday, as investors reacted with caution ahead of more speeches from Federal Reserve officials about the potential for future interest rate cuts.

Here are some of the biggest U.S. stock movers today:

Lowe’s (NYSE:LOW) stock fell 3% despite the home improvement retailer reporting first-quarter net sales that topped expectations, boosted by growth in its online offerings and services for professionals. Concerns about margins weighed on sentiment.

Palo Alto Networks (NASDAQ:PANW) stock fell 4% after the cybersecurity firm’s latest billings forecast disappointed elevated expectations, with the company facing weakness in spending by clients concerned by an uncertain economic environment.

Macy’s (M) stock fell 1% despite the department store’s first-quarter earnings topped expectations.

Nvidia (NASDAQ:NVDA) stock was choppy ahead of results on Wednesday. AWS reportedly halted orders as it awaits the release of Nvidia's newest AI chips.

Xpeng (NYSE:XPEV) stock rose 7% after the Chinese electric-vehicle maker reported better-than-expected first-quarter numbers, despite the very competitive market.

Peloton (NASDAQ:PTON) stock fell 13% after the integrated fitness company launched a $1 billion loan to refinance existing debt.

Zoom (NASDAQ:ZM) stock were volatile after the video conferencing giant--a pandemic-era favorite--unveiled a broadly cautious outlook for its current quarter and fiscal year. Shares pared an earlier decline and were higher by 1.5% midday.

AstraZeneca (NASDAQ:AZN) ADRs rose 2.3% after the pharmaceutical giant announced it now expects to post $80 billion in total revenue by the beginning of the next decade, after sales of $45.8 billion in 2023.

Keysight Technologies (NYSE:KEYS) fell 10% after issuing third quarter outlook that disappointed Wall Street.

Microsoft (NASDAQ:MSFT) rose 1.5%, hitting a 52-week high, ahead a highly anticipated presentation today. The focus is expected to be on its latest AI developments.

Dollar General (NYSE:DG) rose 4% after analysts at Citi previewed its first quarter results and said they don't see signs of a slowdown. It's scheduled to report on May 30.

Additional reporting by Louis Juricic

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.