Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Midday movers: JetBlue Airways, Meta, Bank of America fall; Sweetgreen rises

Published 2023/07/06, 19:38
© Reuters
BAC
-
INTC
-
QCOM
-
JBLU
-
XOM
-
AXP
-
SAVE
-
META
-
AAL
-
BTC/USD
-
AFRM
-
COIN
-
TFMBMc1
-
SG
-

Investing.com -- U.S. stocks were sinking on Thursday after hotter-than-expected data on jobs stoked new fears about interest rates.

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

  • JetBlue Airways (NASDAQ:JBLU) stock fell 6.7% after the carrier said it would follow a U.S. judge's May order to end an alliance with American Airlines (NASDAQ:AAL), down 2.6%, to protect a planned $3.8 billion purchase of Spirit Airlines (NYSE:SAVE), down 0.1%.
  • Meta Platforms (NASDAQ:META) stock dipped 0.3% after the Facebook owner launched Threads, a direct competitor to Twitter, on Wednesday, with the new service attracting 30 million users in a matter of hours.

  • Bank of America (NYSE:BAC) stock fell 3% after the lender announced that it is raising its quarterly dividend by just 9%.

  • Sweetgreen Inc (NYSE:SG) shares jumped 16% after BofA Securities upgraded the stock to Buy from Neutral, betting on growth as consumers flock to healthier fast-casual options.
  • Qualcomm (NASDAQ:QCOM) stock fell 2.6% and Intel (NASDAQ:INTC) stock fell 2.4% as a trade war between Beijing and Washington over the ability to manufacture semiconductor chips escalates.

  • Coinbase (NASDAQ:COIN) stock fell 1.8% after Bitcoin, the world’s largest cryptocurrency, hit a 13-month high amid reports that fund managers are looking to create a U.S.-listed spot bitcoin exchange-traded fund or ETF.

  • Affirm (NASDAQ:AFRM) stock fell 14.3% after Piper Sandler downgraded the fintech company to Underweight from Neutral, saying higher rates and wider credit spreads will pressure operating margins.

  • American Express (NYSE:AXP) stock fell 2.4% after Baird downgraded the credit card giant to Neutral from Outperform, ahead of its quarterly results later in July.

--Peter Nurse contributed to this report.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.