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Midday movers: JetBlue Airways, Meta, Bank of America fall; Sweetgreen rises

Investing.com -- U.S. stocks were sinking on Thursday after hotter-than-expected data on jobs stoked new fears about interest rates.

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

  • JetBlue Airways (NASDAQ:JBLU) stock fell 6.7% after the carrier said it would follow a U.S. judge's May order to end an alliance with American Airlines (NASDAQ:AAL), down 2.6%, to protect a planned $3.8 billion purchase of Spirit Airlines (NYSE:SAVE), down 0.1%.

  • Meta Platforms (NASDAQ:META) stock dipped 0.3% after the Facebook owner launched Threads, a direct competitor to Twitter, on Wednesday, with the new service attracting 30 million users in a matter of hours.

  • Bank of America (NYSE:BAC) stock fell 3% after the lender announced that it is raising its quarterly dividend by just 9%.

  • Sweetgreen Inc (NYSE:SG) shares jumped 16% after BofA Securities upgraded the stock to Buy from Neutral, betting on growth as consumers flock to healthier fast-casual options.

  • Qualcomm (NASDAQ:QCOM) stock fell 2.6% and Intel (NASDAQ:INTC) stock fell 2.4% as a trade war between Beijing and Washington over the ability to manufacture semiconductor chips escalates.

  • Coinbase (NASDAQ:COIN) stock fell 1.8% after Bitcoin, the world’s largest cryptocurrency, hit a 13-month high amid reports that fund managers are looking to create a U.S.-listed spot bitcoin exchange-traded fund or ETF.

  • Affirm (NASDAQ:AFRM) stock fell 14.3% after Piper Sandler downgraded the fintech company to Underweight from Neutral, saying higher rates and wider credit spreads will pressure operating margins.

  • American Express (NYSE:AXP) stock fell 2.4% after Baird downgraded the credit card giant to Neutral from Outperform, ahead of its quarterly results later in July.

--Peter Nurse contributed to this report.

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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.