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Midday movers: JetBlue Airways, Meta, Bank of America fall; Sweetgreen rises

Published Jul 06, 2023 13:10 Updated Jul 06, 2023 18:37
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Investing.com -- U.S. stocks were sinking on Thursday after hotter-than-expected data on jobs stoked new fears about interest rates.

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

  • JetBlue Airways (NASDAQ:JBLU) stock fell 6.7% after the carrier said it would follow a U.S. judge's May order to end an alliance with American Airlines (NASDAQ:AAL), down 2.6%, to protect a planned $3.8 billion purchase of Spirit Airlines (NYSE:SAVE), down 0.1%.
  • Meta Platforms (NASDAQ:META) stock dipped 0.3% after the Facebook owner launched Threads, a direct competitor to Twitter, on Wednesday, with the new service attracting 30 million users in a matter of hours.

  • Bank of America (NYSE:BAC) stock fell 3% after the lender announced that it is raising its quarterly dividend by just 9%.

  • Sweetgreen Inc (NYSE:SG) shares jumped 16% after BofA Securities upgraded the stock to Buy from Neutral, betting on growth as consumers flock to healthier fast-casual options.
  • Qualcomm (NASDAQ:QCOM) stock fell 2.6% and Intel (NASDAQ:INTC) stock fell 2.4% as a trade war between Beijing and Washington over the ability to manufacture semiconductor chips escalates.

  • Coinbase (NASDAQ:COIN) stock fell 1.8% after Bitcoin, the world’s largest cryptocurrency, hit a 13-month high amid reports that fund managers are looking to create a U.S.-listed spot bitcoin exchange-traded fund or ETF.

  • Affirm (NASDAQ:AFRM) stock fell 14.3% after Piper Sandler downgraded the fintech company to Underweight from Neutral, saying higher rates and wider credit spreads will pressure operating margins.

  • American Express (NYSE:AXP) stock fell 2.4% after Baird downgraded the credit card giant to Neutral from Outperform, ahead of its quarterly results later in July.

--Peter Nurse contributed to this report.

Midday movers: JetBlue Airways, Meta, Bank of America fall; Sweetgreen rises
 

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