Midday movers: Apple, Intel, United Airlines fall; Micron rises

(Updated – March 25, 2024 11:38 AM EDT)

Investing.com — Main U.S. indexes slipped lower Monday, consolidating at the start of a holiday-shortened week ahead of the release of key inflation data and several Fed speakers.

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

Apple (NASDAQ:), Meta Platforms (NASDAQ:) and Alphabet (NASDAQ:) stock all fell by over 0.5% after EU antitrust regulators launched investigations into the tech giants for potential breaches of the Digital Markets Act, potentially leading to hefty fines for the companies.

Intel (NASDAQ:) and AMD (NASDAQ:) stock both fell over 3% pre-market after the Financial Times reported that China would limit the use of their chips and servers in government computers, potentially hitting key sales. AMD shares later rebounded and were higher by 1.5%.

Tesla (NASDAQ:) stock fell 1.4% pre-open after analysts downgraded its stance on the EV manufacturer to ‘hold’ from ‘buy’, adding to the company’s woes as it grapples with slow demand and strong competition in the important Chinese market. By noon the stock had pared its decline and was trading roughly flat.

Walt Disney (NYSE:) stock rose 2.4% after a spokesperson for the entertainment giant distanced the company from remarks by activist investor Nelson Peltz criticizing the company for making movies dominated by female and Black actors, saying this is evidence that he shouldn’t be on Disney’s board.

BioNTech (NASDAQ:) stock fell 0.6% after the U.S. National Institutes of Health has sent a notice to the German drug maker regarding default on the payment of royalties and other amounts related to its COVID-19 vaccine.

Novo Nordisk (NYSE:) stock rose 0.75% after the Danish drugmaker agreed to buy Cardior Pharmaceuticals for just over €1 billion ($1.1 billion) to strengthen its cardiovascular pipeline.

United Airlines (UAL) stock fell 4.5% after the U.S. Federal Aviation Administration’s move to increase its oversight of the carrier after a series of recent safety incidents.

Masimo (NASDAQ:) stock rose 4.4% after the Wall Street Journal reported that activist investor Politan Capital Management plans to nominate two more members to the medical devices company’s board. Masimo also plans to spin off its consumer unit.

Super Micro Computer (NASDAQ:) rose 9% after analysts initiated coverage on the stock with an ‘overweight’ rating and a price target of $1,150.

Reddit (RDDT) rose 10%, extending last week’s gain after the social media platform made a strong market debut.

Micron Technology (NASDAQ:) rose 9%, adding to recent gains. The stock has surged 28% since it published results on March 20th.

Additional reporting by Louis Juricic