Nvidia, Boeing, MicroStrategy, PDD, EQT, Choice Hotels, Duolingo, and More Market Movers
Stocks fell Monday as Wall Street comes off a losing week and investors turn their attention to U.S. inflation data on Tuesday.
was down 0.6% after the chip maker shed $128 billion in market cap on Friday, the company’s largest drop on record.
closed down 5.6% on Friday, the largest percentage decrease for the shares since May 31, 2023, when they fell 5.7%. The losses Friday snapped the stock’s six-session winning streak.
was falling 3.8% after The Wall Street Journal reported the Justice Department has opened a criminal investigation into the
737 MAX jet that experienced a blowout on an Alaska Airlines flight in early January. The Journal, citing documents and people familiar with the matter, said investigators have contacted some passengers and crew on the Jan. 5 flight. The Federal Aviation Administration grounded all MAX 9 jets after the incident. They returned to service after all required repairs were made and the planes were inspected.
rose 3.7% and
jumped 12% as the crypto-related companies followed
higher. The world’s largest cryptocurrency at last check was at $72,326, up 4.3% over the past 24 hours. It set a record high of $72,716 earlier.
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U.S.-listed shares of
the Chinese e-commerce company, rose 3.6% after Jefferies upgraded the stock to Buy from Hold. Analysts at Goldman Sachs, however, downgraded PDD to Neutral From Buy.
declined 8.7% after the company confirmed it reached a deal to buy back
its former unit. The company will have an initial enterprise value of more than $35 billion.
rose 0.7% after
said it was ending its attempted takeover of the rival hotel chain.
said its exchange offer to buy
shares has expired and it was withdrawing its nominations to Wyndham’s board. Choice Hotels also said its board approved an increase to its buyback program of 5 million shares. Choice Hotels was up 4.6%.
was rising 4.8% to $223.74 after shares of the language learning company were initiated with a Buy recommendation at
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and price target of $270.
Analysts forecast
will post fiscal third-quarter earnings of $1.38 a share on revenue of $13.28 billion, up 7.2% from a year earlier. The enterprise software company earned $1.22 a share in last year’s third quarter.
Oracle
’s
cloud computing business has been growing faster than its rivals but capacity issues have constrained that growth. Oracle shares were up 1.3% ahead of the report, scheduled for after the closing bell Monday.
Reports are expected later in the week from
Kohl’s
,
Lennar
,
UiPath
,
Adobe
,
and
Jabil
.
Write to Joe Woelfel at joseph.woelfel@barrons.com
