Midday movers: Nvidia, Microsoft, Dollar Tree and more

  • Investing.com
  • Stock Market News
Midday movers: Nvidia, Microsoft, Dollar Tree and more
Credit: © Reuters.

Investing.com -- U.S. stocks were falling as Federal Reserve officials meet in Jackson Hole, Wyo., for their annual conference, with investors hoping for clues about the central bank's next move on interest rates.

Here are some of the biggest U.S. stock movers today:

  • Nvidia (NASDAQ: NVDA ) stock rose 2.9% after the world’s most valuable chip maker posted stellar quarterly earnings, with second-quarter revenues crushing lofty expectations, boosted by the frenzy over generative artificial intelligence.

  • Microsoft (NASDAQ: MSFT ) stock fell 1.5% and Google-owner Alphabet (NASDAQ: GOOGL ) stock fell 1.3% after the strong Nvidia earnings as both companies have been rushing to incorporate generative AI into their web search platforms.

  • Dollar Tree (NASDAQ: DLTR ) stock fell 11.7% after the discount retailer forecast annual profit below expectations as it expects a hit from a shift in spending towards lower-margin consumables.
  • Boeing (NYSE: BA ) stock fell 3.8% after the planemaker warned of delays in near-term deliveries of 737 MAX jets due to a fresh quality issue involving its biggest supplier Spirit AeroSystems (NYSE: SPR ), down 12%.

  • Splunk (NASDAQ: SPLK ) stock rose 13% after the data analytics software maker forecast third-quarter revenue above market estimates on expectations of AI-related spending.

  • Petco Health and Wellness Company (NASDAQ: WOOF ) stock fell 20% after the pet supply retailer swings to a quarterly loss and cuts its annual guidance.

  • Kenvue (NYSE: KVUE ) stock dipped 0.8% after Goldman Sachs (NYSE: GS ) upgraded its stance on the consumer health company to 'Buy' from 'Neutral', saying it could rally more than 20%.
  • United States Steel (NYSE: X ) stock fell 2.9%, extending losses from the previous session that were sparked by a decision by Esmark to scrap its pursuit of a takeover of the alloy producer.

-- Peter Nurse contributed to this report

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