Midday movers: Oracle, Apple, United Parcel Service and more

  • Investing.com
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Midday movers: Oracle, Apple, United Parcel Service and more
Credit: © Reuters.

Investing.com -- U.S. stocks were mixed, with tech stocks falling after Oracle offered a disappointing outlook for the current quarter and as investors await more inflation data during the week to assess the possibility of more Federal Reserve rate hikes this year.

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

  • Oracle (NYSE: ORCL ) stock fell 12.9% after the computer software company disappointed with its current-quarter revenue guidance, with the firm attributing this to the accelerated transition of its recent acquisition Cerner (NASDAQ: CERN ) to the cloud.

  • Apple (NASDAQ: AAPL ) stock fell 1.2% as the iPhone maker kicked off its latest hardware update in California, an event that is expected launch the iPhone 15.

  • Boeing (NYSE: BA ) stock was flat after SMBC Aviation Capital, the world's second largest aircraft leasing firm, said it had concluded an order for 25 Boeing 737 MAX aircraft in a deal worth more than $3.7 billion at current list prices.

  • Geron (NASDAQ: GERN ) stock fell 1.1% after Goldman Sachs (NYSE: GS ) upgraded its stance to ‘buy’ from ‘neutral’, citing the potential for the company’s new drug application for imetelstat, aimed at treating lower-risk MDS.

  • WestRock (NYSE: WRK ) stock jumped 3.4% after the company agreed to merge with Smurfit Kappa (LON: SKG ), to create the world's largest listed paper and packaging company worth nearly $20 billion.

  • United Parcel Service (NYSE: UPS ) stock fell 2.2% after the delivery giant stated that its new five-year contract covering some 340,000 Teamsters-represented workers in the United States would increase wage and benefit costs at a 3.3% compound annual growth rate over the life of the agreement.

  • Acelyrin (NASDAQ: SLRN ) stock slumped over 58% after the drug maker’s experimental lead drug failed to show it was effective enough in reducing symptoms of an inflammatory skin disease.

  • Sight Sciences (NASDAQ: SGHT ) stock fell over 47% after the manufacturer of ophthalmology surgical devices cut its revenue outlook, citing uncertainty about the future of Medicare coverage for its products.

-- Peter Nurse contributed to this report

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