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Midday Movers: Dell Technologies, Affirm, Moderna and More

By Liz Moyer

Investing.com -- U.S. stocks fell after Federal Reserve Chair Jerome Powell's pledge to pursue more interest rate hikes. Here are the midday movers for Aug. 26:

  • Dell Technologies Inc (NYSE:DELL) stock fell 11% after the personal computer maker said it witnessed a softening in demand as consumers pull back on making more purchases.
  • Affirm Holdings Inc (NASDAQ:AFRM) shares fell 20% after the buy-now-pay-later fintech lowered its full year revenue outlook, also highlighting economic challenges ahead.
  • Moderna Inc (NASDAQ:MRNA) shares fell 2% after it sued Covid-19 vaccine rivals Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX), accusing them of infringing on its mRNA technology patents from 2010 to 2016. Shares of Pfizer fell 1% and shares of BioNTech fell 2%.
  • Lennar Corporation (NYSE:LEN) shares fell nearly 6% as it and other homebuilders are under pressure from rising interest rates, which are throwing a wet towel on demand for new housing. Shares of DR Horton Inc (NYSE:DHI) also fell 5%.
  • Electronic Arts Inc (NASDAQ:EA) shares jumped 4.8% on an earlier report of a possible tie up with Amazon.com Inc (NASDAQ:AMZN). The report cited its source as rumors, and CNBC later reported Amazon was unlikely to bid.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.