Top Stock Movers Now: Incyte, Netflix, Intel, and More
U.S. stock markets showed mixed performance at midday, as a strong retail sales report helped counterbalance ongoing concerns over trade tariffs. The Dow Jones Industrial Average edged higher, while the Nasdaq slipped, and the S&P 500 hovered near the flatline.Key Market Movers
Intel (INTC) jumped following reports that newly appointed CEO Lip-Bu Tan is preparing a strategic overhaul of the company’s semiconductor manufacturing and AI operations. Investors reacted positively to the news, pushing shares higher.
Norwegian Cruise Line Holdings (NCLH) saw gains after an upgrade from JPMorgan, citing strong consumer demand and no signs of a slowdown in travel spending.
Netflix (NFLX) shares advanced after MoffettNathanson raised its rating and price target, highlighting the streaming giant’s ability to expand profit margins.
On the downside, Incyte (INCY) plummeted after announcing disappointing results from a Phase 3 clinical trial for its experimental skin care treatment, making it the worst-performing stock in the S&P 500.
Steel stocks came under pressure as Steel Dynamics (STLD) and Nucor (NUE) declined sharply. The drop followed comments from former President Donald Trump, who stated that no exemptions would be made for U.S. steel and aluminum tariffs.
Affirm Holdings (AFRM) also tumbled after reports that Walmart (WMT) had chosen Klarna as its buy now, pay later (BNPL) provider, dealing a blow to Affirm’s business prospects.
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