Midday Stock Movements: Dell and NetApp on the Rise, Boeing Declines

Major stock indices in the United States experienced a slight increase on Friday, starting the new month with optimism following significant progress in February. Here are some of the notable stock movements in the United States today.

  • Dell (DELL): Shares surged by 26% after the technology company announced fourth-quarter earnings surpassing analysts’ expectations. Strong sales of AI-optimized servers helped offset the decline in the personal computer sector.
  • Apple (AAPL): Shares dipped by 1.5% as Goldman Sachs removed the technology company from its “Conviction List – Directors’ Cut,” a list strongly recommending stocks for purchase.
  • Fisker (FSR): Shares plummeted by 46% after the electric vehicle manufacturer expressed concerns about its ability to sustain operations, announced a 15% workforce reduction, and suspended investments in new ventures.
  • NetApp (NTAP): Shares rose by 24% after the data management specialist reported significant growth and the highest profitability in its third fiscal quarter.
  • New York Community Bancorp (NYCB): Shares fell by 22% after the regional banking institution disclosed significant deficiencies in internal controls related to its credit assessments.
  • Plug Power (PLUG): Shares dropped by 2.5% after the company developing hydrogen fuel cell systems reported earnings for 2023 below expectations. Concerns about the company’s ability to maintain continuity were confirmed.
  • Autodesk (ADSK): Shares increased by 2% as the company, specializing in 3D design software, reported higher-than-expected quarterly earnings and provided a positive revenue forecast, citing strong demand from both large corporations and new customers.
  • Zscaler (ZS): Shares declined by 8.5% despite the cloud-based security solutions provider reporting earnings above expectations for the January quarter. However, future earnings expectations did not meet market forecasts.
  • Xcel Energy (XEL): Shares fell by 6% due to concerns about potential financial liabilities related to wildfires in Texas, adding to the losses from the previous day.
  • Keurig Dr Pepper Inc. (KDP): Shares dropped by 2% after the announcement of an 87 million-share offering priced by its main investor, JAB Holdings.
  • Spirit AeroSystems (SPR): Shares surged by 15% following reports in The Wall Street Journal that Boeing is in talks to acquire the company that supplies aircraft fuselages. In contrast, Boeing (BA) shares declined by 2%.

source: prepared by Melisa Beğiç

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