Midday movers: Home Depot, Nvidia, Snap and more
Investing.com -- U.S. stocks surged after cooler than expected inflation numbers for October, which investors interpreted as giving the Federal Reserve reason to pause on another rate move in December.
Here are some of the biggest U.S. stock movers today:
Home Depot (NYSE:HD) stock rose 6.3% after the home improvement retailer reported a smaller-than-anticipated decline in third-quarter comparable sales, although it narrowed its full-year financial forecast as shoppers reined in spending on large-scale projects.
Nvidia (NASDAQ:NVDA) stock rose 1.9% after the chipmaker announced new features to its top-of-the-line chip for artificial intelligence, saying the new offering will start to roll out next year.
Snap (NYSE:SNAP) stock rose 7.9% after Amazon (NASDAQ:AMZN) confirmed that Snapchat users in the U.S. will be allowed to buy some products listed on the ecommerce company directly from the social media app.
Fisker (NYSE:FSR) stock slumped 22% after the electric-vehicle startup slashed its 2023 production guidance as it struggles to ramp up deliveries and flagged weakness in internal controls over financial reporting.
Azenta (NASDAQ:AZTA) stock rose 13.7% after the biotech company announced strong earnings as well as changes to its board, adding activist investor Politan Capital Management will not be pushing for seats this year.
Canadian Solar (NASDAQ:CSIQ) stock fell 1.5% after the provider of solar energy solutions reported weaker than expected profit and revenue in the third quarter as higher interest rates softened demand.
Teck Resources (NYSE:TECK) stock rose % a2.5fter Glencore (OTC:GLNCY) agreed to buy a 77% stake in the steelmaking coal business of the Canadian miner for $6.93 billion in cash.
Sea Ltd (NYSE:SE) stock fell 22% after the tech conglomerate announced plans to prioritize investing in the business to increase market share, potentially depriving investors of income.
--Peter Nurse contributed to this report
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