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Midday movers: Goldman Sachs and Meta Platforms rise; Apple and Tesla fall

Published 04/15/2024, 08:09 AM
Updated 04/15/2024, 11:34 AM
© Reuters

(Updated - April 15, 2024 11:31 AM EDT) -- Main U.S. indexes were mixed on Monday as investors remained cautious after the previous week’s sharp losses, ahead of the ramping up of the quarterly earnings season.

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

Goldman Sachs (GS) stock rose 3% after the banking giant reported a 28% rise in profit in the first quarter, buoyed by a recovery in debt underwriting and dealmaking that boosted its investment banking unit.

Apple (NASDAQ:AAPL) stock fell 0.75% after data from research firm IDC indicated that the iPhone maker has lost its crown as the world’s No.1 phone maker, with Samsung (KS:005930) regaining that spot in the wake of Apple’s weak first quarter.

Meta Platforms (NASDAQ:META) stock fell 0.5% after the tech giant said it would temporarily shut down its social media platform Threads in Turkey from April 29 to comply with an interim order of the Turkish competition authority.

Tesla (NASDAQ:TSLA) stock fell 3% following reports that the EV manufacturer may be about to announce large scale redundancies as it grapples with worsening sales.

Salesforce (NYSE:CRM) stock fell 5.4% after Reuters reported that the customer relations software maker was in advanced talks to acquire Informatica (INFA), down 7.7%.

Reddit (RDDT) stock fell 5.6%, with JPMorgan and Morgan Stanley starting coverage on the social media company with the equivalent to "hold" ratings, as they wait for clarity on the social media company's user growth, while staying bullish on ad-revenue growth and artificial intelligence initiatives.

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Piedmont Lithium (PLL) ADRs rose nearly 23% after the miner said that it had received a long-delayed permit for starting the construction of its lithium mine from North Carolina regulators.

Charles Schwab (NYSE:SCHW) shares rose 3% after it published results for its first quarter that were about in-line with expectations. Management highlighted several encouraging data points during its conference call, analysts noted.

Centene (NYSE:CNC) gained 3.3% after holding onto a statewide Florida Medicaid award. Investors were expected it to lose market share in the state.

Additional reporting by Louis Juricic

Latest comments

this site is truly an amateurish joke.
another week of manipulation
Retail sales through the roof. Rate hike is coming. Economy is beyond booming. Bank earnings stellar.
printer way too much money for it to slow in just 3 years... they should have raised the interest rates to 15% to stop the rich from spending which trickles down .. we will heat up again and then fall off a cliff .. it's how it's always happened in History
Cutting taxes for the rich doesn't help, either.
There will be no rate hike, I think - no reason plus rates are at historically high levels already, after which all the times in past decades we've seen a deep decade-long recession. No point rising them further - we will be in a recession soon anyway. Agree with the rest! Not only bank - all overinflated industries will fall off a cliff very soon after earnings and forecasts.
Last week datas are brushed and shrugged off ... it's back to upcoming rate cut bullish AI hype again .......
Wall st needs mkts pumped so they can exit their positions safely and with good entries on their shorts. Weekly charts and technicals are strongly set for a strong selloff this week.
Another routine day of loss removal in the BIGGEST INVESTMENT JOKE IN THE WORLD, as the pre-market FRAUD unfolds as predictably and flagrantly as ever.
keep investing in pump and dumps trumper
@Duncan go eat some more paint chips
You are quiet Mitch after your 6h-old comment... No more joke, right? Falling off a cliff, as expected.
So the promise of rate cuts were just a nothing burger?
The more wars, inflation and debt the higher stocks soar!! Who would have ever known. Thanks FED for distorting markets with your daily liquidity injections.
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