Midday movers: Snowflake, Salesforce, and more
(Updated - November 30, 2023 12:12 PM EST)
Investing.com -- Main U.S. indexes were mixed on Thursday after inflation and jobs data didn’t change investors' opinion on the timing of Fed rate cuts. The Dow Jones Industrial Average climbed 0.8%, with gains led by Salesforce (NYSE:CRM). Nasdaq slumped 0.7%, and the S&P 500 was down 0.1%.
Here are some of the biggest U.S. stock movers today:
Snowflake (NYSE:SNOW) stock rose 5% after the data warehousing company impressed with its third-quarter results, while its guidance pointed to the cloud slowdown coming to an end.
Salesforce (CRM) stock rose 7% after the cloud software provider raised its annual guidance and posted better-than-anticipated third-quarter earnings.
Big Lots (NYSE:BIG) stock rose 7.3% after the discount retail chain posted a narrower-than-expected third-quarter adjusted loss.
Pure Storage (NYSE:PSTG) stock fell 13% after the data storage provider offered up disappointing guidance for its current quarter and 2024, even as third-quarter earnings were above expectations.
Ford (NYSE:F) stock declined 2.6% after the auto giant cut its full-year earnings forecast, saying the U.S. auto workers' strike has led to a $1.7 billion hit to its profit and lost production of thousands of vehicles.
Microsoft (NASDAQ:MSFT) stock declined 0.6% with the tech giant set to take a spot in OpenAI’s board of directors, according to returning CEO Sam Altman, as the artificial intelligence firm stabilizes after a major upheaval in its leadership earlier in November.
Pinterest (NYSE:PINS) stock rose 1.5% and Snap (SNAP) stock rose 6.5% after Jefferies upgraded the social media firms to ‘buy’ from ‘hold’, expressing confidence in advertising pricing tailwinds.
Tesla (NASDAQ:TSLA) stock declined 1.6% with the EV manufacturer set to start deliveries of its long-delayed Cybertruck electric pickup.
ImmunoGen (NASDAQ:IMGN) stock soared 82% after AbbVie (NYSE:ABBV) announced plans to acquire the biotech in a deal valued at just over $10 billion.
Kroger (NYSE:KR) climbed 2.8% after third quarter earnings per share topped consensus. Results were helped by strong fuel performance.
Coupang (CPNG) stock declined 6% after Softbank (OTC:SFTBY), its largest shareholder, offered a block of 30 million shares.
Additional reporting by Louis Juricic
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