Midday movers: Amazon, WD-40, JPMorgan and Zillow rise
Investing.com -- U.S. stocks were rising as investors await more comments from Fed officials and a key inflation report on Wednesday.
Here are some of the biggest U.S. stock movers today:
Amazon (NASDAQ:AMZN) stock rose 1.2% at the start of the e-commerce giant’s 48-hour Prime shopping event, offering deep discounts in the hope to tempt U.S. shoppers.
Apple (NASDAQ:AAPL) stock fell 0.5% after the tech giant announced plans to begin selling its products on Tencent's (OTC:TCEHY) popular messaging app WeChat as it looks to grow its retail presence in China.
Meta Platforms (NASDAQ:META) stock rose 1.3% after Axios reported that the tech giant's Instagram is planning to bring its branded content tools to Threads, its new social media platform.
JPMorgan (NYSE:JPM) stock rose 1.3% after Jefferies upgraded its stance on the banking giant to ‘buy’ from ‘hold’, calling it “best-in-class” and praising its strong earnings potential.
Zillow (NASDAQ:ZG) stock rose 8.4% after Piper Sandler upgraded its stance on the real estate stock to ‘overweight’ from ‘neutral’, seeing the potential for the stock to rally more than 30%.
Microsoft (NASDAQ:MSFT) stock fell 0.3% after the software giant confirmed that it’s eliminating additional jobs, in addition to the downsizing announced in January that resulted in 10,000 layoffs.
T-Mobile US (NASDAQ:TMUS) stock rose 0.8% after Goldman Sachs called the wireless network operator a ”top pick”, citing the probability of more buybacks.
WD-40 (NASDAQ:WDFC) stock rose 18.5% after the chemicals company reported better-than-expected third-quarter results and announced a 50 million share buyback program.
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