Stocks posted solid gains Thursday even as U.S. producer prices and retail sales rose more than expected in August. Tech shares surged after a successful trading debut from chip design company
These stocks were making moves Thursday:
(ticker: ARM) opened at $56.10,10% above its initial public offering price of $51 a share. At last check, Arm was up 18% at $60.32. After Arm’s debut, shares of fellow chip makers traded mixed.
(NVDA) fell 0.2%, U.S.-listed shares of
Taiwan Semiconductor Manufacturing
(TSM) gained 1%,
(INTC) was up 0.3%, and
(QCOM) rose 1.7%.
Norwegian Cruise Line
(CCL) were upgraded to Buy from Neutral at Redburn. Norwegian stock gained 5.2% and was the leading performer in the
while Carnival was up 3.6%. The Redburn analysts maintained their recommendation on
(RCL) at Neutral. Royal Caribbean gained 2.2%.
(HPQ) was down 2.6% after Warren Buffett’s
(BRK.B) disclosed it sold 5.5 million shares of the maker of personal computers and printers. It was the first sale of stock in
since Berkshire Hathaway accumulated a 12% stake in the company in the early part of 2022.
(SMTC), the semiconductor supplier, forecast a fiscal third-quarter loss of 9 cents to 22 cents a share on revenue of $190 million to $210 million. Analysts had been estimating adjusted earnings of 12 cents a share on revenue of $247.7 million. The stock, however, was rising 6.2% after falling earlier in the session.
(ETSY) rose 3.2% to $66.61 after the online marketplace was upgraded to Outperform from Peer Perform at Wolfe Research with a price target of $100.
(T) jumped 3% after the telecom company said it expects third-quarter free cash flow of $4.5 billion to $5 billion.
(F) was down 0.7% and
(GM) declined 0.4% ahead of a deadline late Thursday for a strike by the United Auto Workers union. Shawn Fain, the head of the UAW, said late Wednesday the union and the Big Three automakers, including
(STLA), were still “very far apart” on the union’s key priorities for wage increases, and that the UAW was preparing to strike all three companies using new tactics after 11:59 p.m. on Thursday.
Delta Air Lines
(DAL) traded flat. The airline cut its third-quarter earnings guidance to a range of $1.85 to $2.05 a share from a prior range of $2.20 to $2.50 but its revenue outlook was upbeat.
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