🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Midday movers: Marathon Oil, Dick's and Chewy rise; American Airlines falls

Published 29/05/2024, 12:44
© Reuters.
NVDA
-
LUV
-
COP
-
MRO
-
ELV
-
HUM
-
CRM
-
UNH
-
DAL
-
MOH
-
BHP
-
DKS
-
CNC
-
AAL
-
CHWY
-
HOOD
-
(Updated - May 29, 2024 11:57 AM EDT)

Investing.com -- U.S. stock futures fell Wednesday, with investors concerned that the Federal Reserve may keep interest rates elevated for longer than previously expected.

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

  • Nvidia (NASDAQ:NVDA) stock fell 0.25%, paring gains slightly after the tech giant’s hefty 7% gains the previous session.

  • American Airlines (NASDAQ:AAL) stock sank 15% after it cut its second-quarter earnings forecast on a more subdued outlook on travel demand. Peers Delta Air Lines (NYSE:DAL), United Airlines (UAL) and Southwest Airlines (NYSE:LUV) were also lower.

  • Robinhood (NASDAQ:HOOD) stock rose 0.5% after the trading platform unveiled a stock buyback of $1 billion.

  • Marathon Oil (NYSE:MRO) (MRO) stock rose 9% after energy giant ConocoPhillips (NYSE:COP), down 3.5%, agreed to buy the Houston-based company, in an all-stock deal worth $17.1 billion that would strengthen the company’s shale assets.

  • Salesforce (NYSE:CRM) stock rose 0.6% ahead of the release of the business software group's fiscal first quarter earnings after the bell, with Wall Street likely on the lookout for updates on the business software group's Data Cloud division.
  • Dick’s Sporting Goods (DKS) stock rose 16% after the retailer raised its full-year guidance after customers spent more on new sneakers and athletic gear at its big-box stores.

  • BHP Group (NYSE:BHP) ADRs rose 1% after the mining giant asked for more time to hold talks with Anglo American (JO:AGLJ), subsequently denied by Anglo, as a deadline for a formal offer loomed large.

  • CAVA Group (CAVA) was volatile after the Mediterranean food chain reported a decline in customer traffic in the first quarter, overshadowing the raising of its annual sales outlook. The stock erased a pre-open decline of over 6%.

  • UnitedHealth Group (NYSE:UNH) declined 4.5% after it warned about risks for its Medicaid business during a presentation. Peers Centene (NYSE:CNC), Molina Healthcare (NYSE:MOH), Humana (NYSE:HUM) and Elevance Health (ELV) also declined.

  • Toast (TOST) fell 6.5% after it updated its two to three year target for profit growth and expansion during an investor presentation, disappointing investors banking on faster growth.

  • Chewy (NYSE:CHWY) rose nearly 30% after beating first quarter EPS estimates and issuing strong guidance for the second quarter and full year.


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.