Midday movers: GM, Workday, Phillips 66

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Midday movers: GM, Workday, Phillips 66
(Updated - November 29, 2023 12:22 PM EST)

Investing.com -- Main U.S. indexes traded higher Wednesday, boosted by dovish comments from a top Fed official, raising hopes that the U.S. central bank has completed its series of rate increases.

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

General Motors (NYSE: GM ) stock rose 10% after the auto giant reinstated its 2023 guidance, plans to boost its dividend by 33% and announced a $10 billion accelerated share buyback.

Dollar Tree (NASDAQ: DLTR ) stock climbed 3% despite missing expectations with its quarterly earnings and sales, citing “softer demand from low-income households.”

Foot Locker (NYSE: FL ) stock soared over 19% after the athletic apparel retailer reported better-than-expected earnings and a shallower than anticipated slide in sales in the third quarter, although the athletic apparel retailer narrowed its full-year earnings guidance due to "ongoing consumer uncertainty."

CrowdStrike (NASDAQ: CRWD ) stock rose 9.6% after the cybersecurity company raised its annual guidance after reporting third-quarter results that topped expectations as a ramp-up in cybersecurity subscription revenue boosted performance.

Workday (NASDAQ: WDAY ) stock rose 12% after the financial and corporate software company beat third-quarter expectations and raised its full-year subscription revenue guidance.

Farfetch (NYSE: FTCH ) stock fell 48% after Richemont (JO: CFRJ ) said it would not inject any cash into the online luxury retailer, following a report that the latter was exploring going private.

Las Vegas Sands (NYSE: LVS ) stock fell 4% after the casino operator announced its largest shareholder, Miriam Adelson, is selling $2 billion of her shares to purchase a sports franchise.

NetApp (NASDAQ: NTAP ) stock rose 15% after the intelligent data infrastructure company raised its annual profit forecast on resilient demand for its cloud-based data solutions.

GameStop (NYSE: GME ) stock rose over 25% with the distressed video game retailer seemingly once more in demand, as indicated by the surging volume of options trading.

KKR (KKR) stock rose 6.75% after the private equity firm said it would buy a remaining 37% stake in Global Atlantic Financial Group that it does not already own for $2.7 billion in an all-cash deal.

Phillips 66 (NYSE: PSX ) climbed 3.6% after Elliott Investment Management announced a position worth $1 billion. Elliott outlined a path to remedy its underperformance and improve execution. Elliott sees approximately 75% upside to the current stock price.

Hewlett Packard Enterprise (NYSE: HPE ) shares gained 8% after the company topped quarterly earnings estimates.

Jabil (JBL) shares plunged more than 14% in early Wednesday trade after the company updated its guidance. The company noted a softening demand.

Petco Health and Wellness (WOOF) shares plunged 25% after the company reported earnings for its latest quarter, missing consensus expectations.

Cigna (NYSE: CI ) shares declined 3% following a WSJ report that said the company is in talks for a stock and cash merger with Humana (NYSE: HUM )

Additional reporting by Louis Juricic

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