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Midday movers: Krispy Kreme, Tesla, and Reddit rise

Published 03/26/2024, 08:01 AM
Updated 03/26/2024, 11:16 AM
© Reuters.

(Updated - March 26, 2024 11:14 AM EDT)

Investing.com -- Main U.S. indexes edged higher Tuesday, with investors retaining a confident tone ahead of the release of key inflation data later in the week.

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

Nvidia (NASDAQ:NVDA) fell 0.6%, trading close to crossing a record high hit earlier in March, Micron Technology (NASDAQ:MU) rose over 2.5%, on track to set a new record high, while Super Micro Computer (NASDAQ:SMCI) rose 2% amid confidence over the AI-inspired rally.

United Parcel Service (NYSE:UPS) fell 3% after the delivery giant forecast lackluster 2026 consolidated revenue, as it works to aggressively cut costs and capture market share.

Tesla (NASDAQ:TSLA) stock rose 6%, with the electric carmaker set to offer U.S. customers a month's free trial of its driver-assist technology, Full Self-Driving, according to CEO Elon Musk.

Ford (NYSE:F) stock fell 0.25% after the auto giant reaffirmed its annual core profit outlook of between $10 billion and $12 billion despite difficult underlying economic conditions.

Boeing (NYSE:BA) stock fell 0.8%, paring Monday’s gains, after the aircraft manufacturer announced a series of management changes, including the departure of CEO Dave Calhoun.

Krispy Kreme (DNUT) stock soared 27% after the donut chain announced that its product will be sold in McDonald’s (NYSE:MCD) restaurants nationwide by the end of 2026.

McCormick (NYSE:MKC) stock rose 1% after the seasonings maker beat market expectations for first-quarter sales and profit, as consumer demand for its high-priced spices held amid sticky inflation.

Viking Therapeutics (NASDAQ:VKTX) stock rose 25% after the pharmaceutical company announced positive Phase 1 results from its obesity drug.

Reddit (RDDT) stock rose 12%, continuing the recent gains after the social media platform’s strong market debut, with the launch of options helping.

Trump Media & Technology Group (DJT) rose 40% after it began trading on the Nasdaq following its merger with blank-check firm Digital World Acquisition.

Spotify (NYSE:SPOT) rose 2% after it was added to a best ideas list by analysts at BofA.

Additional reporting by Louis Juricic

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