Midday movers: Macy's, Super Micro Computer rise; Apple, Tesla fall

(Updated - March 4, 2024 11:08 AM EST)

Investing.com -- Main U.S. indexes edged lower Monday, consolidating after the S&P 500 and Nasdaq hit record highs last week.

Here are some of the biggest U.S. stock movers today:

Macy’s (M) shares jumped 15% after an investor group consisting of Arkhouse Management and Brigade Capital hiked its offer to take the department store chain private.

Crypto-linked stocks, which have been beneficiaries of a recent rally in Bitcoin, drove higher. Top U.S. crypto exchange Coinbase (NASDAQ:COIN) as well as crypto miners Marathon Digital (NASDAQ:MARA), Riot Platforms (NASDAQ:RIOT) and CleanSpark (NASDAQ:CLSK) all gained.

Shares in DoorDash (NASDAQ:DASH) rose 4% after analysts at RBC Capital Markets raised their rating of the delivery service.

Shares in Lyft (NASDAQ:LYFT), which the analysts at RBC Capital Markets also upgraded to "Outperform" and speculated could be a candidate to merge with DoorDash, surged 5%.

Super Micro Computer (NASDAQ:SMCI) shares spiked 20% after S&P Dow Jones Indices announced that the seller of artificial intelligence-optimized servers is slated to join the S&P 500 later this month. Athletic apparel firm Deckers Outdoor (NYSE:DECK) will also be added to the benchmark index. Home appliance group Whirlpool (NYSE:WHR) and Utah-based lender Zions Bancorporation (NASDAQ:ZION), who the two companies are replacing on the S&P 500, moved lower.

Workday (NASDAQ:WDAY), seen as a candidate for inclusion in the S&P 500 index, declined 6% after it wasn’t added.

Apple (NASDAQ:AAPL) declined 3% after it was fined 1.8 billion euros by the European Commission over music streaming app abuses.

Tesla (NASDAQ:TSLA) declined 5.7% after shipments from its factory in Shanghai slumped to the lowest level in more than a year.

Morgan Stanley (MS) stock rose 5%, leading major banks, after it said it will offer pre-IPO share trading to its wealth clients.

Additional reporting by Louis Juricic