Midday movers: Starbucks, Moderna, Eli Lilly and more
Investing.com -- U.S. stocks surged on Thursday, as investors took confidence in Fed Chair Jerome Powell’s comments, hoping that U.S. interest rates have now peaked.
Here are some of the biggest U.S. stock movers today:
Starbucks (NASDAQ:SBUX) stock rose 10.9% after the coffee chain beat fourth-quarter expectations, as strong demand for its produce in North America offset a feeble recovery in China.
Moderna (NASDAQ:MRNA) stock fell 7.5% after the drugmaker posted a loss for the third quarter and a $1.3 billion writedown on unused COVID shots as demand waned.
Eli Lilly (NYSE:LLY) stock rose 4.5% after the pharma giant slashed its full-year profit guidance even as it beat third-quarter expectations, lifted by $1.4 billion in sales from its blockbuster diabetes drug Mounjaro.
Regeneron (NASDAQ:REGN) stock rose 4.4% after the pharmaceutical beat third-quarter profit expectations, driven by strong demand for its eczema treatment Dupixent.
Cedar Fair (NYSE:FUN) stock fell 0.9% and Six Flags (NYSE:SIX) stock rose 5% after the U.S. amusement park operators agreed to merge to fortify their business amid a slowdown in consumer spending.
Qualcomm (NASDAQ:QCOM) stock rose 5.2% after the chipmaker’s strong guidance pointed to an easing of the two-year-long slump in the smartphone market, led by a recovery in China.
DoorDash (NASDAQ:DASH) stock surged 16.7% after the food delivery company forecast fourth-quarter core profit above estimates after topping revenue expectations, boosted by an uptick in delivery orders.
Electronic Arts (NASDAQ:EA) stock rose 5.4% after the video game maker raised its annual earnings forecast, betting that its revamped soccer franchise "FC 24" would boost its results.
Roku (NASDAQ:ROKU) stock soared 30.3% after the streaming service forecast fourth-quarter revenue above estimates after posting better-than-expected revenue growth in the previous three months.
Shell (LON:SHEL) ADRs rose 4.9% after the energy giant announced share buybacks of $3.5 billion over the next three months, up from $2.7 billion in the prior quarter, and maintained its dividend after posting third-quarter earnings of $6.2 billion.
Marriott International (NASDAQ:MAR) stock fell 2% after the hotel operator offered up a downbeat outlook even after it reported a rise in quarterly profit, benefiting from higher room prices and a resilient demand for travel.
--Peter Nurse contributed to this report
Related Articles
Midday movers: Starbucks, Moderna, Eli Lilly and more
UK banks to face mandatory rules for scam reimbursements in 2024
Jury in FTX founder Sam Bankman-Fried's fraud trial begins deliberations
