Top Stock Movers Now: Five Below, Jabil, Microchip Technology, and More
U.S. markets extended their rally into a second day as investors reacted positively to Federal Reserve Chair Jerome Powell’s remarks, easing concerns over a potential economic slowdown. The Dow Jones Industrial Average (DJIA), S&P 500, and Nasdaq all posted gains in midday trading.
Darden Sees Strong Consumer Spending, Shares Climb
Darden Restaurants (DRI), the parent company of Olive Garden and LongHorn Steakhouse, reported that consumer demand for dining out remains resilient. The company’s optimistic outlook boosted its stock price, signaling confidence in discretionary spending trends.
Retail and AI Drive Stock Gains
Five Below (FIVE) shares surged after the discount retailer posted better-than-expected earnings, crediting strong holiday sales and an ambitious expansion plan.
Tech manufacturer Jabil (JBL) also impressed investors, delivering robust quarterly results and issuing an upbeat forecast, driven by rising demand for artificial intelligence (AI) products.
Microchip and Accenture Weigh on Market
Semiconductor firm Microchip Technology (MCHP) saw its shares slide after announcing that Macquarie Group will assist in selling its Fab 2 wafer fabrication facility in Arizona, a move signaling financial strain.
Consulting giant Accenture (ACN) also faced pressure as it warned that federal spending cuts are beginning to impact its revenue.
Stellantis Downgraded, Oil and Gold Gain
Stellantis (STLA) shares dropped following a Piper Sandler downgrade, with analysts citing uncertainty surrounding the automaker’s future prospects.
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