Midday movers: MongoDB, Citigroup, and more
(Updated — December 6, 2023 12:11 PM EST)
Investing.com — Main U.S. indexes were slightly higher Wednesday afternoon. Data that showed slower growth in private payrolls added to the belief that the Federal Reserve will start cutting interest rates early next year, but investors were cautious ahead of the release of the official November payroll report on Friday.
Here are some of the biggest U.S. stock movers today:
Campbell Soup (NYSE:CPB) stock rose 7% after the company beat expectations for quarterly profit, benefiting from higher prices for its packaged meals and snacks that helped offset a slowdown in demand from cost-conscious consumers.
ExxonMobil (NYSE:XOM) stock declined 1.2% despite news that the oil major will increase the pace of its share buybacks after it closes its $60 billion takeover of shale producer Pioneer Natural Resources (NYSE:PXD). Meanwhile, the price of WTI crude fell below $70 per barrel for the first time since July.
Nvidia (NASDAQ:NVDA) stock declined 0.5% after the chip designer said it was working with the U.S. government to ensure new chips for the Chinese market are compliant with export curbs.
MongoDB (NASDAQ:MDB) stock fell 7.5% on slowing customer growth even after the data storage company posted better-than-anticipated third-quarter results and upbeat guidance.
Plug Power (NASDAQ:PLUG) stock fell 1% after analysts at Morgan Stanley downgraded its investment stance on the hydrogen fuel cell firm to ‘underweight’ from ‘equal weight’, citing liquidity concerns
Box (BOX) stock fell 10% after the cloud storage company offered up a weak sales forecast despite solid quarterly results.
InMode (NASDAQ:INMD) stock fell 10% after the Israeli medtech company issued a profit warning, expecting a
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