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Midday movers: AutoZone, Broadcom, Lowe's and more

Investing.com -- Stocks are falling as uncertainty over a resolution to the debt ceiling weighed on sentiment. Here are the market movers for May 23.

  • AutoZone Inc (NYSE:AZO) shares fell 6.3% after the retailer of auto parts missed revenue and same-store sales expectations for the recent quarter as inventory rose.
  • Broadcom Inc (NASDAQ:AVGO) shares rose 2% after the chip maker reported a multi-year agreement to make 5G radio frequency components for Apple (NASDAQ:AAPL). Shares of Apple dipped 0.8%.
  • Lowe’s Companies Inc (NYSE:LOW) shares rose 1.6% after the home improvement retailer reported better than expected adjusted earnings per share in the first quarter but cut its fiscal year revenue outlook as households cut back on do-it-yourself projects.
  • Hermes International (OTC:HESAF)(EPA:HRMS) shares fell 6%, while shares of LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMUY) (EPA:LVMH) dropped 5% as stocks of European luxury brands fell broadly on Tuesday. Bloomberg reported that international demand, especially in China, has taken a hit.

  • Yelp Inc (NYSE:YELP) shares rose 6.4% after the restaurant and retail review site caught the attention of an activist shareholder. TCS Capital said it has a 4% stake and wants the company to explore strategic options, including a sale to a strategic or private equity buyer.

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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.