U.S. STOCKS ON THE MOVE-General Motors, Silvergate, Nvidia, BridgeBio Pharma

Kimball International

08/03/2023 19:04

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U.S. stock indexes struggled for direction on Wednesday as investors worried
about a potential recession, a day after comments from Federal Reserve Chair
Jerome Powell fueled bets of sharper rate hikes.  .N 
    At 1337 ET, the Dow Jones Industrial Average  .DJI  was down 0.70% at
32,626.85. The S&P 500  .SPX  was down 0.38% at 3,971.22 and the Nasdaq
Composite  .IXIC  was down 0.17% at 11,510.195.
 
 The top three S&P 500  .PG.INX  percentage gainers:
 ** ON Semiconductor Corp  ON.O , up 3.9%
 ** Arista Networks Inc  ANET.N , up 3%
 ** Advanced Micro Devices  AMD.O , up 2.9%
 
 The top three S&P 500  .PL.INX  percentage losers:
 ** Brown-Forman Corp  BFb.N , down 6.1%
 ** Norwegian Cruise Line Holdings Ltd  NCLH.N , down 4.9%
 ** Valero Energy Corp  VLO.N , down 4.6%
 
 The top three NYSE  .PG.N  percentage gainers:
 ** Arlo Technologies  ARLO.N , up 45.9%
 ** Membership Collective Group Inc  MCG.N , up 17.9%
 ** Gol Linhas Aereas Inteligentes SA  GOL.N , up 12.2%
 
 The top three NYSE  .PL.N  percentage losers:
 ** United Natural Foods  UNFI.N , down 27.7%
 ** Cherry Hill Mortgage Investment Corp  CHMI.N , down 14.1%
 ** BigBear.ai Holdings  BBAI.N , down 13.9%
 
 The top three Nasdaq  .PG.O  percentage gainers:
 ** Kimball International Inc  KBAL.O , up 83.7%
 ** Diversey Holdings  DSEY.O , up 37%
 ** Maxeon Solar Technologies  MAXN.O , up 34.7%
 
 The top two Nasdaq  .PL.O  percentage losers:
 ** Toro Corp  TORO.O , down 52.8%
 ** Intelligent Bio Solutions Inc  INBS.O , down 45.7%
 
        
 ** CareDx Inc  CDNA.O : down 1.1%
 BUZZ - Stephens downgrades CareDx after new CMS policy  urn:newsml:reuters.com:*:nL4N35G1TJ 
    
 ** Tesla Inc  TSLA.O : down 3.6%
 BUZZ - Falls as Berenberg downgrades to 'hold'  urn:newsml:reuters.com:*:nL4N35G2WA 
    
 ** Silvergate Capital Corp  SI.N : down 5.4%
 BUZZ - Sinks to new depths  urn:newsml:reuters.com:*:nL1N35G1S9 

 ** WeWork Inc  WE.N : up 1.3%
 BUZZ - Rises on report of talks to restructure $3 bln in debt  urn:newsml:reuters.com:*:nL4N35G28L 
    
 ** CrowdStrike Holdings Inc  CRWD.O : up 2.7%
 BUZZ - Gains on upbeat forecast, Q4 results beat  urn:newsml:reuters.com:*:nL4N35G2WU 
    
 ** Occidental Petroleum Corp  OXY.N : up 1.3%
 BUZZ - Rises as Buffett's Berkshire boosts stake to 22.2%  urn:newsml:reuters.com:*:nL4N35G29P 
    
 ** Rigel Pharmaceuticals Inc  RIGL.O : up 18.0%
 BUZZ - Jumps on strong Q4 revenue  urn:newsml:reuters.com:*:nL4N35G2C6 
    
 ** Rivian Automotive Inc  RIVN.O : up 1.2%
 BUZZ - Rises after co secures $1.3 bln capital raise  urn:newsml:reuters.com:*:nL1N35G0SF 
    
 ** Apple Inc  AAPL.O : up 0.4%
 BUZZ - Wedbush raises Apple PT on iPhone demand rebound in China  urn:newsml:reuters.com:*:nL4N35G2EB 
    
 ** Mesoblast Ltd  MESO.O : up 25.2%
 BUZZ - Gains on FDA nod to review lead drug candidate  urn:newsml:reuters.com:*:nL4N35G2DV 
    
 ** Kimball International Inc  KBAL.O : up 83.7%
 BUZZ - Soars on $485 mln buyout deal from HNI Corp  urn:newsml:reuters.com:*:nL4N35G32R 
    
 ** Campbell Soup Co  CPB.N : up 1.3%
 BUZZ - Rises on lifting annual sales forecast  urn:newsml:reuters.com:*:nL4N35G2G3 
    
 ** Stitch Fix Inc  SFIX.O : down 8.8%
 BUZZ - Shares fall after lower rev guidance, CFO change  urn:newsml:reuters.com:*:nL4N35G2GQ 
    
 ** Diversey Holdings Ltd  DSEY.O : up 37.0%
 BUZZ - Jumps as Solenis to take company private for $4.6 bln  urn:newsml:reuters.com:*:nL4N35G34E 
    
 ** Intelligent Bio Solutions Inc  INBS.O : down 45.7%
 BUZZ - Slumps on deep-discounted stock offering  urn:newsml:reuters.com:*:nL4N35G2SQ 

 ** United Natural Foods Inc  UNFI.N : down 27.7%
 BUZZ - Tanks as earnings, forecast disappoint  urn:newsml:reuters.com:*:nL4N35G2KM 
    
 ** Opko Health Inc  OPK.O : up 7.1%
 BUZZ - Rises on deal with Merck for experimental Epstein-Barr virus vaccine
 urn:newsml:reuters.com:*:nL4N31E28E 
    
 ** Shoals Technologies Group Inc  SHLS.O : down 8.1%
 BUZZ - Slides as founder divests stake  urn:newsml:reuters.com:*:nL1N35G12Q 
    
 ** DocuSign Inc  DOCU.O : up 0.7%
 BUZZ - Ticks higher on PT hikes ahead of Q4 results  urn:newsml:reuters.com:*:nL4N35G2PL 
    
 ** Albemarle Corp  ALB.N : up 0.8%
 BUZZ - Tesla's EV sales forecast 'very bullish' for lithium miners - Citi
 urn:newsml:reuters.com:*:nL4N35G2G8 
    
 ** Brown-Forman Corp  BFb.N : down 6.1%
 BUZZ - Falls after Q3 profit misses estimates on higher costs  urn:newsml:reuters.com:*:nL4N35G2WN 
    
 ** Southwest Gas Holdings Inc  SWX.N : up 3.1%
 BUZZ - Gains after $215 mln equity raise  urn:newsml:reuters.com:*:nL1N35G198
    
 ** Vertex Inc  VERX.O : up 25.6%
 BUZZ - Rises on surprise profit  urn:newsml:reuters.com:*:nL4N35G2UK

 ** Korn Ferry  KFY.N : up 4.7%
 BUZZ - Climbs on forecast, quarterly results beat  urn:newsml:reuters.com:*:nL4N35G2XC
    
 ** Harbor Custom Development Inc  HCDI.O : down 17.3%
 BUZZ - Drops after warning of missing 2022 guidance  urn:newsml:reuters.com:*:nL4N35G2XG
    
 ** Viridian Therapeutics Inc  VRDN.O : down 7.0%
 BUZZ - Falls on downbeat 2022 revenue  urn:newsml:reuters.com:*:nL4N35G2W8
    
 ** AerCap Holdings NV  AER.N : down 3.6%
 BUZZ - Descends as GE to slash stake  urn:newsml:reuters.com:*:nL1N35G1HB
    
 ** Sage Therapeutics Inc  SAGE.O : up 6.5%
 BUZZ - Up as FDA says no plans for advisers' meeting for co's depression drug
 urn:newsml:reuters.com:*:nL4N35G38O
    
 ** LifeStance Health Group Inc  LFST.O : up 23.8%
 BUZZ - Up on higher-than-estimated 2023 sales  urn:newsml:reuters.com:*:nL4N35G300
    
 ** BridgeBio Pharma Inc  BBIO.O : down 15.3%
 BUZZ - Falls on pricing of stock offering  urn:newsml:reuters.com:*:nL4N35G35S
    
 ** WW International Inc  WW.O : down 22.4%
 BUZZ - Sheds gains from Tuesday  urn:newsml:reuters.com:*:nL4N35G35P
    
 ** Treace Medical Concepts Inc  TMCI.O : up 21.1%
 BUZZ - Gains on smaller-than-estimated Q4 loss  urn:newsml:reuters.com:*:nL4N35G372
    
 ** General Motors Co  GM.N : down 0.6%
 BUZZ - Down after report of slow rollouts for GMC Hummer, Cadillac Lyriq
 urn:newsml:reuters.com:*:nL4N35G3A9
    
 ** Nvidia Corp  NVDA.O : up 2.5%
 BUZZ - Rallies, eyes strongest close in nearly a year  urn:newsml:reuters.com:*:nL1N35G21D
    
 The 11 major S&P 500 sectors:
 
 Communication Services   .SPLRCL   up 0.04%
 Consumer Discretionary   .SPLRCD   down 1.07%
 Consumer Staples         .SPLRCS   down 0.45%
 Energy                   .SPNY     down 1.77%
 Financial                .SPSY     down 0.79%
 Health                   .SPXHC    down 0.90%
 Industrial               .SPLRCI   down 0.43%
 Information Technology   .SPLRCT   up 0.24%
 Materials                .SPLRCM   down 0.05%
 Real Estate              .SPLRCR   up 1.28%
 Utilities                .SPLRCU   up 0.19%
 
 (Compiled by Rajarshi Roy and Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))