Today's Morning Movers and Top Ratings: AMZN, SPOT, JBLU, GM and More

$Amazon(AMZN.US)$ Stock rose 0.5% after the e-commerce giant launched a new grocery delivery subscription in the United States for members of its Prime program and customers who are recipients of government food assistance benefits.

$General Motors(GM.US)$ Stock rose 5.1% after the auto giant reported a robust first quarter in 2024, with earnings and revenue surpassing expectations and the company raising its full-year guidance.

$United Parcel Service(UPS.US)$ Stock rose 1.1% after the delivery firm reported first-quarter profit above estimates as cost cuts partly offset subdued demand for small-package delivery.

$Spotify Technology(SPOT.US)$ Stock soared 8% after the music streaming company reported its gross profit crossed 1 billion euros in a quarter for the first time, despite quarterly monthly active users coming in below estimates.

$Roblox(RBLX.US)$ Stock rose 4.4% after JPMorgan upgraded its stance on the gaming platform to ‘overweight’ from ‘neutral’, citing significant monetization opportunities.

$Apple(AAPL.US)$ Stock fell 0.2% after the company's iPhone sales in China plummeted by 19% during the March quarter, marking the device's poorest performance in the region since the onset of Covid around 2020.

$PepsiCo(PEP.US)$ Stock fell 0.2% despite the soft drinks giant beating quarterly earnings and revenue expectations, due to a recall of some Quaker Foods cereal and bars that dented U.S. volumes.

$JetBlue Airways(JBLU.US)$ Stock fell 8.9% after the low-cost airline lowered its 2024 revenue forecast, adding second-quarter revenue would likely drop as much as 10.5% on the year.

$Affirm Holdings(AFRM.US)$ Stock fell 0.2%, as the fintech lender started to offer "buy now, pay later" loans for elective medical procedures, expanding beyond its core e-commerce market.

$Cadence Design Systems(CDNS.US)$ Stock fell 6.7% after the chip design software maker forecast second-quarter revenue below expectations.