Top Movers of the Day

Generated by AI AgentAinvest Movers Radar
Tuesday, Mar 12, 2024 6:02 pm ET1min read
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  • Stocks rose on Tuesday despite U.S. inflation rising more than expected in February.

  • Oracle (ORCL): Shares jumped 12% after reporting higher-than-expected fiscal third-quarter earnings and revenue, with a significant 49% increase in cloud infrastructure business.

  • Nvidia (NVDA): Shares rose 7.2% following Oracle's earnings report, which highlighted a strong market for Nvidia's graphics-processing units.

  • Southwest Airlines: Shares sank 15% after the airline revised its revenue per available seat mile expectations for the first quarter and mentioned re-evaluating its fiscal-year guidance due to lower expected Boeing aircraft deliveries.

  • American Airlines: Shares fell 4.7% after the company predicted a first-quarter adjusted loss at the low end of its previous estimate due to higher fuel prices.

  • 3M: Shares rose 5% after announcing a new CEO, William Brown, to succeed current CEO Michael Roman on May 1.

  • Acadia Pharmaceuticals (ACAD): Shares fell 17% after its drug pimavanserin failed to show a statistically significant improvement over a placebo in treating negative symptoms of schizophrenia.

  • Archer Daniels Midland: Shares rose 4% after the company provided a positive fiscal-year earnings outlook and authorized an additional $2 billion for its share buyback program.

  • On Holding: Shares fell 8.9% after issuing a sales forecast for the fiscal year that missed Wall Street estimates.

  • Asana: The work management software company reported a narrower-than-expected fiscal fourth-quarter loss but its stock fell 13%.

  • New York Community Bancorp: Shares rose 5.9% after the regional lender announced a reverse stock split following a $1.05 billion capital infusion deal.

  • Kohl"s (KSS): Shares fell 6.7% after reporting fourth-quarter earnings that beat estimates but sales that missed. The company also announced a partnership with Babies "R" Us.

  • Advance Auto Parts: Shares were up 3.6% after the company appointed three new directors to its board and reached cooperation agreements with activist investors Third Point and Saddle Point Management.

  • Overall, the stock market showed resilience in the face of higher-than-expected inflation, with notable movements in several key stocks driven by earnings reports, revised forecasts, and corporate announcements.

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