Midday movers: Walgreens, Apple, Allstate and more
(Updated - January 4, 2024 12:10 PM EST)
Investing.com -- Main U.S. indexes were mixed on Thursday as investors awaited tomorrow’s key jobs report.
Here are some of the biggest U.S. stock movers today:
Walgreens Boots Alliance (NASDAQ:WBA) stock declined 6% after the drug store chain reported better-than-expected profit for the first quarter on strength in its pharmacy operations and cut its quarterly dividend in an attempt to save cash.
Ford (NYSE:F) stock rose 0.3% after the auto giant announced plans to increase the prices of some of its electric F-150 Lightning pickup trucks, suggesting demand is strong for the product.
Apple (NASDAQ:AAPL) stock fell 1.5% after brokerage Piper Sandler downgraded its stance on the tech giant to ‘neutral’ from ‘overweight’, saying new checks showed a soft broader handset environment in the first half of 2024.
Micron (NASDAQ:MU) stock rose 1.6% after Piper Sandler upgraded the chipmaker to ‘overweight’ from ‘neutral’, saying recent supply cuts should accelerate upward pricing in both flash memory and chip markets.
Cal-Maine Foods (NASDAQ:CALM) stock rose 2.8% after it reported second-quarter results and commented on the impact of outbreaks of bird flu on egg supply.
APA (APA) stock fell 7% after the independent energy company agreed to acquire Callon Petroleum (NYSE:CPE), up 4%, in an all-stock deal valued at about $4.5 billion.
Mattel (NASDAQ:MAT) stock fell 1.3% after brokerage Roth MKM downgraded the Barbie doll maker to ‘neutral’ from ‘buy’, citing a cautious outlook for 2024.
Mobileye Global (NASDAQ:MBLY) stock fell over 25% after the autonomous driving tech company slashed its revenue forecast for 2024, expecting customers to pull back on orders.
Amazon (NASDAQ:AMZN) stock declined 1.4% after a Bloomberg report discussed a potential threat from TikTok, which is aiming for a tenfold increase in its US e-commerce business this year.
ConAgra Brands (CAG) stock fell 2% after the company reported earnings for its latest quarter, with EPS guidance coming in lower-than-anticipated.
Allstate (NYSE:ALL) stock rose 3.6% after Morgan Stanley upgraded it to ‘overweight’ from ‘equalweight’, citing potential for stronger earnings growth.
Additional reporting by Louis Juricic
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