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Midday movers: Nvidia erases gain; Carvana and Block rise

Published 23/02/2024, 14:08
Updated 23/02/2024, 17:14
© Reuters

Investing.com -- Main U.S. indexes consolidated Friday, trading in tight ranges after the previous session’s dramatic Nvidia’s inspired rally.

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

Nvidia (NASDAQ:NVDA) stock rose as much as 4.9% with the artificial intelligence chip designer continuing to see demand after adding a staggering $277 billion in market capitalization on Thursday, setting a record for the biggest one-day jump in history. Shares revered course midday, falling about 1%.

Warner Bros Discovery (NASDAQ:WBD) stock fell 12% after the media giant reported fourth-quarter revenue that was below average forecasts, but said it is now on a "clear pathway" to growth.

Carvana (CVNA) stock soared 33% after the used car company forecast core earnings well above $100 million in the first quarter.

Block (SQ) stock rose 16% after the payments firm beat quarterly revenue estimates and hiked its annual operating profit outlook.

Intuitive Machines (LUNR) soared over 20% after the aerospace firm’s Odysseus lunar lander successfully touched down on the moon, becoming the first private craft to do so and the first U.S. craft on the moon since 1972.

Rivian (NASDAQ:RIVN) stock fell 11%, continuing the previous session’s sharp drop after UBS downgraded its investment stance on the electric truck maker all the way to ‘sell’ from ‘buy’, citing a"rapidly changing EV backdrop."

DraftKings (NASDAQ:DKNG) stock rose 2.9% after Barclays upgraded the betting company to ‘overweight’ from ‘equal weight’, recognizing the significant growth potential in the U.S. digital gaming market.

Grab (GRAB) stock declined 1.9% after the food delivery company reported its first quarterly profit and unveiled a maiden share repurchase program.

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Super Micro Computer (NASDAQ:SMCI) stock fell 14% after the information technology company announced pricing of $1.5 billion convertible senior notes.

MercadoLibre (NASDAQ:MELI) declined 12.5% after one time charges impacted the Latin e-commerce platform’s results.

Nu Holdings (NU) declined 4% after the Brazilian financial technology company reported net income that was below consensus.

Penumbra, Inc. (NYSE:PEN) declined 5% after the medical device maker’s revenue guidance misses estimates, prompting a downgrade from JPMorgan.


Additional reporting by Louis Juricic

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