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Midday movers: Ciena, GameStop, vaccine stocks and more

By Liz Moyer

Investing.com -- Stocks were rising on Thursday as investors tried to break the S&P 500's five-day losing streak ahead of next week's Fed meeting. Here are the midday movers for Dec. 8.

  • Ciena (NYSE:CIEN) stock rose nearly 20% after the network equipment maker handily beat expectations for profit and revenue and said it sees the opportunity for "outsize" revenue gains in 2023.

  • GameStop (NYSE:GME) stock rose 9% even after the video game retailer said net sales dropped in the recent quarter as it continues to work on a turnaround effort.

  • Vaccine makers' stocks were rising after the Food and Drug Administration approved the Covid-19 booster shot designed to combat the Omicron variant for children as young as six years old. Pfizer (NYSE:PFE) rose 1.9%, BioNTech SE (NASDAQ:BNTX) rose 3.6%, and Moderna (NASDAQ:MRNA) rose 1.5%.

  • Exxon Mobil (NYSE:XOM) shares rose 1.1% after the oil major said it would buy back up to $50 billion of stock through 2024 after reporting its highest profit in history. The announcement expands a plan to buy back $30B of stock through next year. Chevron (NYSE:CVX) shares rose 0.6% after it said it would raise its capital spending by 25% next year.

  • Rackspace Technology Inc (NASDAQ:RXT) stock fell 13% days after saying a ransomware attack was blocking some customers from their email inboxes for days.

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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.