Midday movers: SoFi surges, iRobot sinks, and more
(Updated - January 29, 2024 11:38 AM EST)
Investing.com -- Main U.S. indexes were largely unchanged Monday at the start of a busy week that includes a Federal Reserve policy-setting meeting, the widely-watched monthly payrolls report, as well as earnings from a number of mega-cap tech stocks.
Here are some of the biggest U.S. stock movers today:
Boeing (NYSE:BA) stock fell 0.2% after Ryanair, Europe’s largest airline by passenger numbers, said if any U.S. customers refuse to take delivery of 737 MAX 10 aircraft, that it would buy them "at the right price."
Microsoft (NASDAQ:MSFT) stock rose 0.7% ahead of Tuesday’s quarterly results, with investors confident that the software giant is set to report its best revenue growth in nearly two years, thanks to its early lead in artificial intelligence.
Intel (NASDAQ:INTC) stock fell 1.6% after it failed to bounce after last week’s disappointing numbers resulted in a slump of almost 12% on Friday.
Tesla (NASDAQ:TSLA) stock rose 3%, recovering to a degree after last week’s slump in the wake of CEO Elon Musk warning about slower sales growth despite price cuts that have already negatively affected margins.
American Airlines (NASDAQ:AAL) stock fell 0.8% despite analysts upgrading its stance on the carrier to ‘buy’ from ‘neutral’, citing its diversified revenue streams and strong demand for its premium cabin services.
Philips (PHG) ADRs fell 5% after the Dutch medical devices manufacturer halted sales of its sleep apnoea machines in the U.S., setting aside almost $400 million in the fourth quarter to fix long-running issues, after a deal with U.S. authorities.
SoFi Technologies (NASDAQ:SOFI) stock rose 22% after the personal finance company reported strong fourth-quarter earnings, helped by surging lending volumes.
iRobot (NASDAQ:IRBT) stock fell 10% after it and Amazon (NASDAQ:AMZN) announced they mutually agreed to terminate the acquisition agreement of iRobot. The deal had no path to regulatory approval in the European Union.
Lucid Group (NASDAQ:LCID) stock rose 17% amid interest in beaten down EV names. Shares of peers Tesla and Rivian (Nasdaq: NASDAQ:RIVN) were also strong.
Coinbase (NASDAQ:COIN) stock rose 7.6% as Bitcoin continued to rebound after falling to $38,500 last week. The cryptocurrency was back above $42,000 Monday morning and banging on the door of $43,000. Shares of Marathon Digital Holdings (NASDAQ:MARA) were also higher.
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Additional reporting by Louis Juricic
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