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Midday movers: Boeing, CrowdStrike and more

Published 09/01/2024, 13:06
Updated 09/01/2024, 17:10
© Reuters.

Investing.com -- Main U.S. indexes were mixed on Tuesday amid caution ahead of the release of the key monthly inflation data later in the week.

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

Boeing (NYSE:BA) stock fell 0.8%, continuing to retreat after loose parts on some grounded models of the plane manufacturer's 737 Max 9 jet have reportedly been discovered by both United Airlines and Alaska Airlines.

Unity Software (U) stock fell 7.9% after the videogame software provider announced that it will target laying off approximately 25% of its workforce as part of a “company reset”.

Match Group (NASDAQ:MTCH) stock rose 4% following a report by the Wall Street Journal indicating that activist investor Elliott Investment Management has amassed a stake of approximately $1 billion in the dating app company.

Hewlett Packard Enterprise (NYSE:HPE) stock fell 7.5% after the WSJ reported that the information technology company was in advanced negotiations to acquire Juniper Networks (NYSE:JNPR), up 22%, for approximately $13 billion.

Alphabet (NASDAQ:GOOGL) stock rose 1.1%, adding to yesterday’s gain. BMO Capital initiated coverage on Alphabet with an ‘outperform’ rating and a price target of $170, citing potential strength in digital ads.

Netflix (NASDAQ:NFLX) stock fell 0.75% after Citigroup downgraded its stance on the streaming giant to ‘neutral’ from ‘buy’, citing concerns over revenue and spending levels.

Tilray (NASDAQ:TLRY) stock declined 7.5% after the cannabis company reported results for the second quarter. Revenue increased year-over-year but operating profit declined.

BioNTech (NASDAQ:BNTX) stock fell 1.9% after the biotech firm predicted it would take until 2025 for it to return to revenue growth in 2025, forecasting that the ongoing decline in its COVID-19 vaccine business would bottom out and that it would also invest to scale up its oncology business.

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CrowdStrike Holdings (NASDAQ:CRWD) stock rose 4.8% after analysts at Morgan Stanley (NYSE:MS) upgraded it to ‘overweight’ from ‘equalweight’, citing an improving demand outlook.

Cardinal Health (NYSE:CAH) declined 3.8% after telling investors its Medical segment profit won’t improve this quarter.


Additional reporting by Louis Juricic

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