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Midday movers: Spirit Aerosystems, Tesla rise; Chewy falls

Investing.com
·2-min read

(Updated - July 1, 2024 11:47 AM EDT)

Investing.com -- U.S. stock futures were flat Monday, starting the holiday-shortened week off in subdued fashion ahead of the release of key unemployment data on Friday.

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

Boeing (NYSE:BA) stock rose 1.8% after the planemaker agreed to reacquire Spirit Aerosystems (SPR), up 3%, for over $4 billion, ending months of speculation over the deal as the planemaker struggled with a new safety crisis.

Tesla (NASDAQ:TSLA) stock rose 6% after analysts said the EV maker’s growth in China appears to be gradually improving, with a "mini rebound" in Q2 that could help the company reach Wall Street’s estimate of 435,000 units.

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Nvidia (NASDAQ:NVDA) stock was choppy, consolidating after gains of close to 150% so far this year. Morgan Stanley lifted its price target on the semiconductor, calling it “the most compelling narrative in the AI semis space”.

Chewy (NYSE:CHWY) stock fell 6%, erasing a pre-open gain of 20% after Keith Gill, the stock influencer known as "Roaring Kitty", disclosed a 6.6% stake in the pet products retailer.

GameStop (NYSE:GME) stock fell 7.5% after Gill was accused of securities fraud in a class-action lawsuit concerning the video game retailer.

Meta Platforms (NASDAQ:META) fell 1% following reports the Facebook owner is being charged by EU antitrust regulators for failing to comply with landmark tech rules.

Trump Media&Technology (DJT) stock rose 4%, bouncing after Friday’s sharp losses in volatile trading in the wake of the first presidential debate between current President Joe Biden and former President Donald Trump.

Cassava Sciences (NASDAQ:SAVA) stock fell 4%, extending declines following reports last week that a key adviser to the Alzheimer’s drug developer was indicted by a federal grand jury for allegedly submitting fabricated and falsified scientific data to obtain grants.

Nio (NYSE:NIO) ADRs rose 8% and Li Auto (NASDAQ:LI) stock climbed 6% after the Chinese EV makers reported strong deliveries in June.

O'Reilly (NASDAQ:ORLY) and AutoZone (NYSE:AZO) each declined approximately 4% after analysts flagged concerns about demand headwinds.

Marathon Digital Holdings (NASDAQ:MARA) rose 11% as cryptocurrency-related stocks gained amid a rebound in the price of Bitcoin. Coinbase (NASDAQ:COIN) climbed 3.6%


Additional reporting by Louis Juricic

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