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Midday movers: Nvidia, Moderna rise; Etsy, Rivian fall

Published 02/22/2024, 07:43 AM
Updated 02/22/2024, 11:25 AM
© Reuters

(Updated - February 22, 2024 11:22 AM EST)

Investing.com -- Main U.S. indexes rose strongly Thursday after blockbuster results from AI darling Nvidia (NASDAQ:NVDA) helped boost sentiment, ahead of the release of more corporate earnings and important economic data.

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

Nvidia (NVDA) stock soared 15% after the world’s most valuable chipmaker reported better-than-expected fourth-quarter revenue and outlined a bullish forecast for artificial intelligence-fueled chip demand.

Palantir Technologies (NYSE:PLTR), Advanced Micro Devices (NASDAQ:AMD) and Super Micro Computer (NASDAQ:SMCI) all have posted hefty gains, benefiting from Nvidia's strong outlook.

Moderna (NASDAQ:MRNA) stock rose 9.5% after the drugmaker reported a surprise fourth-quarter profit, helped by cost cutting and some deferred payments.

Etsy (NASDAQ:ETSY) stock fell 7% after the e-commerce company warned of a fall in first-quarter gross merchandise sales on weak demand for handcrafted goods and personalized gifts sold at its online marketplace.

Rivian (NASDAQ:RIVN) stock slumped over 27% after the electric truck maker reported annual production guidance that fell short of Wall Street estimates and announced deep job cuts.

Southwest Airlines (NYSE:LUV) stock rose 1% after the carrier said it has reached a tentative agreement with Transport Workers Union that represents nearly 18,000 ramp, operations, provisioning and cargo agents.

Royal Caribbean (NYSE:RCL) stock rose 8% after the cruise operator raised its full-year income forecast, saying it has been encouraged by both the "demand and pricing environment" in 2024.

Cheniere Energy (NYSE:LNG) stock fell 3.7% after the liquefied natural gas company posted a 38.5% fall in its full-year LNG revenue, hurt by a fall in natgas prices.

Fiverr International (NYSE:FVRR) stock fell 9% after the online freelance marketplace missed expectations with its fourth-quarter results, while the next quarter's revenue guidance of $92.5 million also underwhelmed.

Wayfair (NYSE:W) stock rose 7% after the online furniture retailer reported a narrower-than-expected fourth-quarter loss and said it returned to positive active customer growth.

Additional reporting by Louis Juricic

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