Today's Morning Movers and Top Ratings: SHOP, RIVN, SMCI, DIS and More

Movers and Shakers wrote a column · 20 hours ago

Morning Movers

Gapping up

$SHOP.US$ stock soared 17% after the e-commerce platform surpassed quarterly revenue expectations, with its artificial intelligence-powered tools attracting more merchants.

$DIS.US$ stock rose by 0.16% in volatile trading as its Entertainment unit, housing Disney+, Hulu, and ESPN+, turning a profit for the first time.

Gapping down

$SMCI.US$ stock fell 14.2% following the announcement of disappointing fiscal fourth-quarter earnings and a 10-for-1 stock split, effective from the start of October.

$ABNB.US$ stock slumped 14.4% after the company projected third-quarter revenue below estimates and indicated shorter booking windows, hinting at travelers booking last minute due to economic uncertainty.

$CVS.US$ stock decreased by 0.15% after the healthcare company reduced its 2024 profit forecast, affected by rising medical costs at its health insurance unit amid sustained high demand for healthcare services.

$LYFT.US$ stock declined 13.3% as the company provided a weaker forecast for the current quarter ending September, overshadowing strong second-quarter results.

$NVO.US$ stock dropped 5.1% after the pharmaceutical company lowered its full-year profit forecast following lower-than-expected quarterly sales of its weight-loss drug Wegovy, raising concerns about increasing competition.

$AMGN.US$ stock fell 2% after reporting a 1% dip in second-quarter profit, with rising expenses diminishing the impact of a 20% increase in revenue.

$RIVN.US$ stock decreased by 9.3% after the electric vehicle maker indicated no increase in production this year and expected slightly lower deliveries in the third quarter.

Source: CNBC; Investing.com

US Top Rating Updates on 08/07