Midday Movers: Lyft and Geron increase; GameStop and DocuSign decline
Investing.com: Friday’s bumpy U.S. stock futures came from Labour Department data that revealed stronger-than-expected job growth in May, which lessened the chance that the Fed will start cutting interest rates in September.
The following are a few of the top U.S. stock movers of today:
Following the announcement of a steep decline in net sales for the first quarter and the possibility of selling 75 million shares of common stock, GameStop (NYSE:GME) saw a 20% decline in stock price. Prior to Keith Gill, or “Roaring Kitty,” doing a livestream on YouTube later on Friday, shares had surged dramatically.
Even though the software company exceeded estimates with its first-quarter profits, DocuSign (NASDAQ:DOCU) saw a 6% decline in its shares after disclosing its second-quarter projections.
The market valuation of Nvidia (NASDAQ:NVDA) declined 1.5%, extending the losses from the previous session. This put the chipmaker’s market valuation below $3 trillion, trailing Apple (NASDAQ:AAPL) and making it the third most valuable corporation in the world.
Ahead of the iPhone manufacturer’s upcoming developers conference on Monday, where it is anticipated to reveal details on its upcoming significant software upgrade, Apple (AAPL) stock increased by 0.5%.
Following the biopharmaceutical company’s first approval by the US Food and Drug Administration for Rytelo, a medication for blood disorders, Geron’s (NASDAQ:GERN) stock saw a 19% increase.
Following the ride-hailing company’s announcement that it expected gross bookings to rise at a compound annual rate of approximately 15% over the next three years, Lyft (NASDAQ:LYFT) (LYFT) shares increased by 1.5%. On Friday, multiple analyst upgrades were sparked by its update.
The apparel retailer J.Jill (JILL) increased its full-year sales guidance following the release of better-than-expected first-quarter profits, which caused the stock to rise 5.1%.
Following news from Reuters that Yext, Inc. (NYSE:YEXT) has brought on investment bankers to look into a possible sale, the stock saw an 8% increase.
Sherwin-Williams (NYSE:SHW) saw a 4% decrease following analyst warnings about possible demand difficulties.
