Midday movers: AMD, Carvana rise; MasterCard, Intuit fall

July 11, 2024 01:40 AM AEST | By Investing

Google News:

Midday movers: AMD, Carvana rise; MasterCard, Intuit fall

Recent News

Tesla downgraded as ’uncertainty abounds’

Warner Bros. Discovery to split into two media companies

Echostar stock sinks amid bankruptcy considerations

Southwire’s Project GIFT® Supports Water Mission With Annual Walk for...

(Updated - July 10, 2024 11:36 AM EDT)

Investing.com -- U.S. stock futures largely edged higher Wednesday, with the second round of comments from Fed chief Jerome Powell to Congress underway.

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

Microsoft (NASDAQ:MSFT) stock rose 0.3% following a report that the software giant was ready to give up an observation seat on the board of OpenAI amid regulatory scrutiny into generative artificial intelligence in both the U.S. and Europe.
Tesla (NASDAQ:TSLA) stock fell 0.3%, paring recent gains, despite news that Goldman Sachs (NYSE:GS) raised its estimates and price target for the EV manufacturer following stronger-than-expected Q2 deliveries.
3M Company (NYSE:MMM) stock fell 0.1% after the manufacturing company announced that CFO Monish Patolawala would leave the firm at the end of the month to pursue another opportunity.
Honeywell (NASDAQ:HON) stock rose 1% after the Wall Street Journal reported that the industrial giant is set to buy the liquefied natural-gas process technology and equipment business from Air Products (NYSE:APD), up 2.1%, for $1.8 billion.
Goodyear (GT) stock rose 3% after a report that Japan's Yokohama Rubber was in talks to buy its off-road tire business for at least $1 billion.
Taiwan Semiconductor Manufacturing (TSM) stock rose 2.4% after the world's largest chipmaker reported 32% year-on-year growth in second-quarter revenue.
LegalZoom (LZ) stock slumped 27% after the online legal firm cut its full-year revenue guidance, while also announcing that CEO Dan Wernikoff had resigned from his post, effective immediately.
Smart Global (SGH) stock rose 18% after the global leader in specialty memory solutions reported a third-quarter profit as lower operating expenses helped offset a double-digit drop in revenue.
Deckers Brands (DECK) fell 8% amid concerns about HUKA and UGG growth rates in June.
AMD (NASDAQ:AMD) rose 3% after it announced the signing of a definitive agreement to acquire Silo AI, the largest private AI lab in Europe, in an all-cash transaction valued at approximately $665 million.
MasterCard (MA) fell 2.9% after analysts at BofA downgraded the stock to 'neutral' from 'buy'.
Carvana (CVNA) rose 3% after analysts at Needham upgraded the stock to 'buy', citing growth potential.
Intuit (NASDAQ:INTU) fell 4% after it announced plans to cut 1,800 global employees, or 10% of its workforce.

Additional reporting by Louis Juricic

This article first appeared in Investing.com

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.