Stocks making the biggest moves midday: Twitter, Macy's, Nvidia, Lululemon and more
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Check out the companies making headlines in midday trading Thursday.
Macy's — Shares jumped 17.8% after the department store chain reported better-than-expected quarterly results and raised its profit guidance. Macy's got a boost from shoppers who are snapping up apparel and other goods regardless of rising prices.
Twitter — Twitter shares jumped more than 5% after Elon Musk increased his commitment in his takeover bid to $33.5 billion. Analysts have said the move indicates a new seriousness by the Tesla CEO and increased probability that he'll complete the deal, which has been mired in controversy since Musk proposed it in May.
Lululemon — Shares of the athleisure company jumped 10.8% after Morgan Stanley upgraded Lululemon to overweight and said its well-positioned to perform well, even as a recession looms.
Nvidia — The chipmaker's stock gained 5.6% after falling earlier in the session. It came as Nvidia issued weaker-than-expected guidance for the current quarter and said it plans to slow hiring.
Broadcom — Broadcom's stock gained 4.2% after the semiconductor company shared its plan to buy VMware in a $61 billion cash and stock deal. The acquisition would mark one of the largest technology deals in history.
Dollar Tree — The discount retailer soared 22.3% after posting quarterly earnings and revenue that beat analyst expectations. Dollar Tree reported earnings per share of $2.37 on revenues of $6.9 billion. Analysts anticipated earnings of $2.00 a share on $6.76 billion in revenue, according to Refinitiv.
Kraft Heinz — The food and beverage company fell 6.2% after UBS downgraded the stock of fears of rising inflation and competition from private labels.
Alibaba — Alibaba shares surged 14.8% following
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