On Monday, the major U.S. stock indexes remained relatively stable as the week commenced, setting the stage for a busy schedule that includes a Federal Reserve policy-setting meeting, the eagerly anticipated monthly payrolls report, and earnings reports from several mega-cap tech companies.
Some notable movers in the U.S. stock market today include:
- Boeing (NYSE: BA) saw its stock dip by 0.2% following news that Ryanair, Europe’s largest airline by passenger numbers, expressed interest in purchasing 737 MAX 10 aircraft at the right price if any U.S. customers decline delivery.
- Microsoft (NASDAQ: MSFT) shares gained 0.7% in anticipation of its quarterly results scheduled for Tuesday. Investors are optimistic about the software giant’s performance, with expectations of robust revenue growth driven by its early leadership in artificial intelligence.
- Intel (NASDAQ: INTC) faced a 1.6% drop in its stock price after failing to recover from last week’s disappointing financial results, which had led to a nearly 12% decline on Friday.
- Tesla (NASDAQ: TSLA) witnessed a 3% uptick in its stock, partially recovering from the previous week’s decline. This bounce followed CEO Elon Musk’s warning about slower sales growth, despite recent price cuts that impacted margins.
- American Airlines (NASDAQ: AAL) shares decreased by 0.8%, despite analysts upgrading their stance on the company from ‘neutral’ to ‘buy’. The upgrade was attributed to the carrier’s diversified revenue streams and strong demand for premium cabin services.
- Philips (PHG) ADRs experienced a 5% drop after the Dutch medical devices manufacturer decided to halt sales of its sleep apnoea machines in the U.S. The company allocated nearly $400 million in the fourth quarter to address long-standing issues following an agreement with U.S. authorities.
- SoFi Technologies (NASDAQ: SOFI) saw an impressive 22% surge in its stock price after reporting strong fourth-quarter earnings, bolstered by surging lending volumes.
- iRobot (NASDAQ: IRBT) shares fell by 10% as both iRobot and Amazon (NASDAQ: AMZN) mutually agreed to terminate their acquisition agreement, citing a lack of regulatory approval in the European Union.
- Lucid Group (NASDAQ: LCID) witnessed a 17% increase in its stock price amid rising interest in undervalued electric vehicle (EV) companies. Peers like Tesla and Rivian (NASDAQ: RIVN) also displayed strength in their shares.
- Coinbase (NASDAQ: COIN) saw a 7.6% increase in its stock price as Bitcoin rebounded after falling to $38,500 the previous week, climbing back above $42,000. Marathon Digital Holdings (NASDAQ: MARA) also saw higher share prices.
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