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

Movers and Shakers wrote a column · Aug 7, 2024 20:03

Morning Movers

Gapping up

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

$Disney (DIS.US)$ 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

$Super Micro Computer (SMCI.US)$ 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.

$Airbnb (ABNB.US)$ 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.

$CVS Health (CVS.US)$ 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.

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

$Novo-Nordisk A/S (NVO.US)$ 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.

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

$Rivian Automotive (RIVN.US)$ 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