Midday movers: Small cap stocks rule, Archer-Daniels-Midland falls, and more
(Updated — January 22, 2024 11:28 AM EST)
Investing.com — Main U.S. indexes edged higher Monday, at the start of a week that sees the earnings season ramp up as well as the release of some key economic numbers. The Russel 2000 index significantly outperformed the Dow, S&P 500, and Nasdaq.
Here are some of the biggest U.S. stock movers today:
Macy’s (M) stock rose 2% after the department store chain rejected a $5.8 billion take private bid from investing firm Arkhouse and hedge fund Brigade.
Boeing (NYSE:BA) stock fell 0.5% after the Federal Aviation Administration's recommendation for door plug inspections on the Boeing 737-900ER model.
Spirit Airlines (NYSE:SAVE) stock rose 11% after the budget carrier and JetBlue Airways (NASDAQ:JBLU), up 2%, announced that they had appealed a federal court decision blocking their proposed merger on antitrust concerns.
Archer-Daniels-Midland (ADM) stock fell 20% after the food processing company said its chief financial officer has been placed under administrative leave amid an investigation into accounting practices in its nutrition segment.
SolarEdge (NASDAQ:SEDG) stock rose 4% after the renewable energy firm announced plans to lay off about 16% of its global workforce.
ExxonMobil (NYSE:XOM) stock fell 1% after the oil giant filed a lawsuit against U.S. and Dutch activist investors in a bid to stop them from submitting climate proposals during the oil giant’s annual shareholder meeting.
American Airlines (NASDAQ:AAL) stock rose 1% after Wolfe Research upgraded the carrier to ‘outperform’ from ‘peer perform’, citing the potential for Revenue per Available Seat Mile to rise later this year as capacity growth slows.
NuStar Energy (NS) stock rose over 14% and Sunoco (SUN) fell 5% after
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