Top Stock Movers Now: Nvidia, Vertiv, Dollar Tree, and More
Key Takeaways
- U.S. equities were mostly lower at midday as tech stocks dragged down the Nasdaq and S&P 500.
- Worries about new restrictions on its chip sales in China sent shares of Nvidia lower.
- Dollar Tree sold its struggling Family Dollar stores to private-equity firms.
U.S. equities were mostly lower at midday, with tech stocks leading the Nasdaq down more than 1%. The S&P 500 was also lower, while the Dow Jones Industrial Average was little changed.
Nvidia (NVDA) shares declined on concerns about possible new restrictions on the chipmaker’s sales in China.
Shares of Vertiv Holdings (VRT) tumbled when Barclays lowered the price target, arguing that first-quarter orders might not be enough to meet revenue expectations.
Tesla (TSLA) shares are on track to end lower, which would snap a five-day winning streak for the electric vehicle (EV) maker.
Dollar Tree (DLTR) shares jumped after the discount retailer sold its struggling Family Dollar stores to private-equity firms for $1 billion. Shares of rival Dollar General (DG) also advanced.
Shares of Cintas (CTAS) climbed when the provider of uniforms and other workplace products posted better-than-anticipated results and boosted its profit outlook as it benefited from acquisitions.
Chewy (CHWY) shares gained when the online pet supplies retailer also posted better-than-anticipated results as it added more customers and automatic payment sales increased.
Oil futures were higher. Gold prices fell. The yield on the 10-year Treasury note was up. The U.S. dollar climbed versus the euro, pound, and yen. Most major cryptocurrencies traded lower.
TradingView