By Liz Moyer
Investing.com -- Stocks recovered morning losses and were trading up despite a stronger-than-expected report on job openings for November that many said could encourage the Federal Reserve to keep interest rates elevated. Here are the midday movers for Jan. 4.
- Coinbase Global Inc (NASDAQ:COIN) shares rose 13.7% after the crypto exchange agreed to settle with New York financial regulators over its anti-money laundering program, paying a $50 million fine and pledging to spend $50M to boost its compliance efforts.
- Salesforce Inc (NYSE:CRM) shares rose 3.6% after the enterprise software company said it would cut 10% of its workforce, or approximately 7,000 jobs, and scale back its office space holdings. The effort will cost $1.45 billion to $2B.
Meta Platforms Inc (NASDAQ:META) shares rose 2.7% after Irish privacy regulators fined it about $400M, saying the social media company's advertising and data handling violated European Union rules on privacy. The matter ends two investigations.
Microsoft Corporation (NASDAQ:MSFT) stock fell 4.4% after analysts at UBS cut their rating to neutral from buy, citing challenges to growth in its cloud business, called Azure, and its office software business, Office 365, which it says is vulnerable to a slowdown.
General Electric Company (NYSE:GE) shares rose 4.2% on the first day its healthcare business, GE HealthCare, started trading as its own company on the Nasdaq. Shares of GE HealthCare rose 5.3%.