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Midday movers: Dell, NetApp rise; Boeing falls

Published 03/01/2024, 07:54 AM
Updated 03/01/2024, 11:11 AM
© Reuters.

(Updated - March 1, 2024 11:09 AM EST)

Investing.com -- Main U.S. indexes edged higher Friday, starting the new month off on a positive note after strong gains in February.

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

Dell (NYSE:DELL) stock jumped 26% after the tech giant reported fourth-quarter results that topped Wall Street as solid demand for its artificial intelligence-optimized servers offset weakness in personal computing.

Apple (NASDAQ:AAPL) stock fell 1.5% after Goldman Sachs removed the tech giant from its “Conviction List - Directors' Cut,” the bank’s selection of top buy-rated stocks.

Fisker (NYSE:FSR) stock slumped 46% after the electric-vehicle startup flagged going-concern risks, saying it would cut its workforce by 15% and pause investments in future projects.

NetApp (NASDAQ:NTAP) stock rose 24% after the intelligent data infrastructure company reported solid growth and record profitability in its third quarter.

New York Community Bancorp (NYSE:NYCB) stock fell 22% after the embattled regional lender said it had found "material weaknesses" in company controls related to an internal loan review.

Plug Power (NASDAQ:PLUG) stock fell 2.5% after the hydrogen fuel cell system developer disclosed 2023 results that missed expectations but said it resolved the “going concern” issues.

Autodesk (NASDAQ:ADSK) stock rose 2% after the 3D design software maker delivered better-than-expected quarterly results and issued an encouraging sales outlook amid healthy demand from enterprise and entry-level customers.

Zscaler (NASDAQ:ZS) stock fell 8.5% despite the cloud security platform reporting better-than-expected results for the January quarter, with its guidance disappointing the market.

Xcel Energy (NASDAQ:XEL) stock fell 6%, extending yesterday’s decline amid concerns about potential liability from wildfires in Texas.

Keurig Dr Pepper Inc. (NASDAQ:KDP) stock fell 2% after pricing an offering of 87 million shares by its largest holder, JAB Investments.

Spirit AeroSystems (NYSE:SPR) gained 15% and Boeing (NYSE:BA) declined 2% after WSJ reported Boeing is in talks to acquire the fuselage supplier.


Additional reporting by Louis Juricic

Latest comments

Dell fourth lowered than last 2 years earning result will definitely beat the forecast
Welcome to Friday FRAUD.  Wall Street is putting a fine edge of the financial knife, preparing to plunge it into the back of the US working class heading into the weekend.  Can't have anything but "rallies" and record highs in the BIGGEST INVESTMENT JOKE IN THE WORLD.
IT'S A CONSPIRACY!!!
Laughing all the way to the bank.
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