Midday movers: Meta, Boeing fall; Coinbase, Equitrans Midstream rise

(Updated - March 11, 2024 11:04 AM EDT)

Investing.com -- Main U.S. indexes drifted lower Monday, as investors warily awaited the release of key inflation data later in the week for more cues on future Federal Reserve policy.

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

Nvidia (NASDAQ:NVDA) stock rose 1.3%, with the AI-darling bouncing after Friday’s sharp selloff.

Boeing (NYSE:BA) stock fell 4% after the WSJ reported that the U.S. Justice Department had opened a criminal investigation into a dangerous mid-air fuselage breach in January on one of the planemaker's 737 Max jets operated by Alaska Airlines.

Choice Hotels (NYSE:CHH) International stock rose 4.8% after the hotel chain terminated its months-long takeover bid for rival Wyndham Hotels & Resorts (WH) after failing to gather enough support from the target's shareholders. Choice also announced an increase of 5 million shares to its repurchase program.

Netflix (NASDAQ:NFLX) stock rose 0.9% after Oppenheimer lifted its price target on the streaming giant to $725 from $615, while keeping an ‘outperform’ rating, saying the push to roll out stricter password sharing rules, introduce advertising and optimize subscriber plans will help drive revenue growth this year.

Coinbase (NASDAQ:COIN) stock rose 4%, with the cryptocurrency exchange benefiting from bitcoin, the most popular digital currency, climbing to a fresh record high.

Equitrans Midstream (NYSE:ETRN) jumped 2.7% after energy company EQT Corp. (NYSE:EQT (ST:EQTAB)), down 7.7%, said it had decided to buy back its former pipeline unit in an all-stock deal.

Adobe (NASDAQ:ADBE) stock fell 0.8% after BMO Capital Markets removed the computer software company from its top pick list, citing the growing competitive threat.

Duolingo (DUOL) stock rose 1% after JPMorgan initiated coverage on the popular language-learning platform, with an ‘overweight’ rating, highlighting its strong market position, with 88.4 million monthly active users and 26.9 million daily active users, which represent about 5% of the estimated 1.8 billion global language learners.

Meta Platforms (NASDAQ:META) declined 4.5% after former President Trump said a TikTok ban would only help Facebook, an enemy of the people.

Moderna (NASDAQ:MRNA) gained 9% on reports its study of a vaccine for a type of skin cancer is starting.

Additional reporting by Louis Juricic