Today's Morning Movers and Top Ratings: CHGG, KR, GME, STM and More

$Chegg(CHGG.US)$ stock saw an impressive 18.01% increase after the education technology company announced a significant workforce reduction, cutting 23% of its global staff as a part of an extensive restructuring initiative.

$Merck & Co(MRK.US)$ shares experienced a 1.11% uptick following the U.S. Food and Drug Administration's approval of the pharmaceutical giant's advanced vaccine designed to protect adults from pneumococcal disease.

$The Kroger(KR.US)$ shares gained 2.64% as BMO Capital Markets upgraded the grocery chain from market perform to outperform, citing the recent dip in share price as an appealing buying opportunity.

Semiconductor stocks continued their upward trajectory on Tuesday. $Broadcom(AVGO.US)$ shares rose by 1.78%, while $Qualcomm(QCOM.US)$ shares rose by more than 3%. Nvidia shares also experienced a modest rise of less than 1%.

$GameStop(GME.US)$ shares declined by 3.04%, extending losses from the prior session, in the wake of CEO Ryan Cohen's announcement regarding the company's strategy to maintain a leaner network of retail stores.

$Boeing(BA.US)$ stock dipped slightly by 0.3% upon news from the Wall Street Journal that GE Aerospace CEO Larry Culp turned down the aerospace manufacturer's offer to consider stepping in as the new chief executive.

$NextEra Energy(NEE.US)$ shares declined nearly 4.9% following the company's announcement of a planned sale of about $2 billion in equity units priced at $50 each. These units will include a 5% undivided ownership interest in NextEra Energy Capital Holdings and a contract to buy NextEra stock by June 1, 2027.

$Lennar Corp(LEN.US)$ shares fell 2.56%% even though the homebuilder's second-quarter results were stronger than anticipated. The company reported earnings of $3.45 per share on revenue of $8.77 billion, which was above the LSEG analyst expectations of $3.24 earnings per share on $8.52 billion revenue. However, some Wall Street analysts expressed concerns over Lennar's third-quarter guidance, which forecast a quarter-over-quarter decline in new orders.