Investing.com – U.S. stock futures were mixed on Tuesday after May retail sales data was weaker than economists expected, as investors continued to balance the weaker economic data with the possibility of a Federal Reserve interest rate cut later this year.
Here are some of the biggest movers of US stocks today:
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Cheg (NYSE:) stock rose 13% after the education technology group announced plans to cut 23% of its global workforce as part of a broader restructuring drive.
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Lennar (New York Stock Exchange 🙂 (LEN) The stock fell 2.9% after the homebuilder forecast third-quarter home deliveries below expectations, a sign that demand for new homes is expected to remain sluggish as mortgage rates hover at their highest level in two decades.
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GameStop (NYSE:) stock rose 0.4%, rebounding from sharp losses in the previous session, after CEO Ryan Cohen told investors that the video game retailer plans to operate a smaller network of stores.
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Tesla (NASDAQ:) stock fell 1.9% after the electric car maker began its fight for legal recognition of CEO Elon Musk's massive $56 billion pay package.
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apple (NASDAQ:) stock fell 1.3% after the iPhone maker canceled its “buy now, pay later” service in the US, ending the offer just over a year after it was first announced.
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Merck (MRK) The stock rose 0.1% after the U.S. Food and Drug Administration approved the drugmaker's next-generation vaccine to protect adults against pneumococcal disease.
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No-Z-Boy (NYSE:) stock rose 18% after the furniture maker reported a strong end to fiscal 2024, with fourth-quarter earnings and revenue exceeding expectations.
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Boeing (NYSE:) stock fell 2% after The Wall Street Journal reported that GE Aerospace CEO Larry Culp declined the planemaker's request to consider taking over as CEO.
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Nvidia (NASDAQ:) rose 1.7% after several Wall Street firms raised their price targets on the stock. The “highest on the street” price target is now $200.
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Micron technology (NASDAQ:) rose 4.8% after being added to the list of top picks by analysts at Bank of America.
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Hooks (NYSE:) rose 2% after it was upgraded to “outperform” by analysts at research firm BMO. Analysts were also positive on Kroger today.
Additional reporting by Louis Jurisic
