If you want to be a successful investor, it’s important to keep up with the biggest moves in the market. But how can you do that? By reading the biggest stock moves of the day! In this piece, you’ll find out about stocks that are having big days and why they’re moving so much, including FedEx, Adobe and Boeing, among others.
Shares of the shipping behemoth FedEx fell by nearly 21.4% after the firm released its poor quarterly results ahead of schedule and numerous Wall Street analysts downgraded the stock. On CNBC’s “Mad Money” on Thursday, CEO Raj Subramaniam stated his belief that a “global recession” will soon hit the economy. FedEx caused a decline of around 8.3% and 4.7%, respectively, in its rivals UPS and XPO Logistics.
Shares of International Paper Co. fell more than 11% after Jefferies cut the stock’s rating from hold to underperforming. This comes as the paper services sector battles a supply glut of containerboard and declining demand.
Uber: The ride-sharing company’s shares dropped by approximately 3.6% after it said that it is looking into a cybersecurity problem. The New York Times reported that a hacker had taken over Uber’s internal systems after infiltrating a worker’s Slack account.
General Electric: After its chief financial officer stated on Thursday that the business is still struggling with supply chain challenges that are impacting its ability to deliver products to its customers, shares of the industrial conglomerate fell by approximately 3.7%. The pressure on GE’s cash flow as a result.
NCR – Shares of the company that provides technology to banks, shops, and restaurants fell by more than 20% Thursday, reaching a new 52-week low. The board of directors of NCR stated that the business would be divided into two separate publicly traded businesses.
Shares of Extra Space Storage decreased by almost 1.3%. The business announced a $590 million acquisition of rival Storage Express earlier in the day.
In the midst of Friday’s sell-off, Apple was down about 1.1%, despite KeyBank’s Friday statement that the stock is still a strong buy.
Tesla – Despite Morgan Stanley’s Friday claim that the electric vehicle manufacturer will probably benefit from the Inflation Reduction Act, shares of Tesla fell by about.1%.
Shares of the cloud computing company Snowflake fell more than 6% on Friday as growth stocks saw the worst declines. Even though Needham started covering Snowflake with a buy rating and saw promise for new applications for its platform, the stock fell.
CrowdStrike – Despite MKM recommending investors buy the cybersecurity firm and claiming it is in a “league of its own,” the stock fell more than 4% as a result of the sell-off.
Netflix: Citi increased its price estimate for the venerable streaming service from $275 to $305 and referred to it as the finest option for on-demand video services. Just over 2% was gained in shares.
Amazon: In the midst of a significant sell-off, the e-commerce giant was down roughly 2.1%. Regarding the company’s retail growth and profit margins, UBS stated that it felt “excellent.”
Adobe – After numerous downgrades from Wall Street analysts, Adobe’s stock continued its downward trend from Thursday, falling by just over 3%. The technology stock was downgraded by Bank of America to neutral while it awaited further information regarding Adobe’s acquisition of Figma.
Amazon: The world’s largest online retailer was down about 2.1% in the middle of a big sell-off. UBS said it felt “great” about the company’s retail growth and profit margins.
Adobe: The stock of Adobe fell by little over 3% after receiving many downgrades from Wall Street analysts on Thursday. Bank of America lowered the technology stock to neutral while it anticipated further details on Adobe’s acquisition of Figma.
Boeing, a manufacturer of commercial aircraft, was down roughly 3.7%. The business announced on Friday that it intends to sell some of its 737 Max aircraft designated for China.