Midday movers: Marathon Oil, Dick's and Chewy rise; American Airlines falls

(Updated - May 29, 2024 11:57 AM EDT)

Investing.com -- U.S. stock futures fell Wednesday, with investors concerned that the Federal Reserve may keep interest rates elevated for longer than previously expected.

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

• Nvidia (NASDAQ:NVDA) stock fell 0.25%, paring gains slightly after the tech giant’s hefty 7% gains the previous session.

• American Airlines (NASDAQ:AAL) stock sank 15% after it cut its second-quarter earnings forecast on a more subdued outlook on travel demand. Peers Delta Air Lines (NYSE:DAL) and Southwest Airlines (NYSE:LUV) were also lower.

• Robinhood (NASDAQ:HOOD) stock rose 0.5% after the trading platform unveiled a stock buyback of $1 billion.

• Marathon Oil (NYSE:MRO) (MRO) stock rose 9% after energy giant ConocoPhillips (NYSE:COP), down 3.5%, agreed to buy the Houston-based company, in an all-stock deal worth $17.1 billion that would strengthen the company’s shale assets.

• Salesforce (NYSE:CRM) stock rose 0.6% ahead of the release of the business software group's fiscal first quarter earnings after the bell, with Wall Street likely on the lookout for updates on the business software group's Data Cloud division.

• Dick’s Sporting Goods (DKS) stock rose 16% after the retailer raised its full-year guidance after customers spent more on new sneakers and athletic gear at its big-box stores.

• BHP Group (NYSE:BHP) ADRs rose 1% after the mining giant asked for more time to hold talks with Anglo American (JO:AGLJ), subsequently denied by Anglo, as a deadline for a formal offer loomed large. BHP no longer intends to make a firm offer. 

• CAVA Group (CAVA) was volatile after the Mediterranean food chain reported a decline in customer traffic in the first quarter, overshadowing the raising of its annual sales outlook. The stock erased a pre-open decline of over 6%.

• UnitedHealth Group (NYSE:UNH) declined 4.5% after it warned about risks for its Medicaid business during a presentation. Peers Centene (NYSE:CNC), Molina Healthcare (NYSE:MOH), Humana (NYSE:HUM) and Elevance Health (ELV) also declined.

• Toast (TOST) fell 6.5% after it updated its two to three year target for profit growth and expansion during an investor presentation, disappointing investors banking on faster growth.

• Chewy (NYSE:CHWY) rose nearly 30% after beating first quarter EPS estimates and issuing strong guidance for the second quarter and full year.

Additional reporting by Louis Juricic