
(Updated - November 20, 2023 12:29 PM EST)
Investing.com -- U.S. stocks got off to a strong start, with all three major averages moving higher on Monday. The holiday-shortened week includes the keenly-awaited release of the minutes from the most recent Federal Reserve meeting.
Here are some of the biggest U.S. stock movers today:
Microsoft (NASDAQ:MSFT) stock rose 1.9% with the tech giant set to hire Sam Altman to lead a new advanced artificial intelligence research team, just days after the prominent AI-industry figure was ousted as CEO of OpenAI.
Nvidia (NASDAQ:NVDA) stock rose 1% ahead of Tuesday’s quarterly results, amid sky-high confidence the tech giant can outperform given the market’s enthusiasm for all things AI.
Uber (NYSE:UBER) stock gained 1% after the ride-hailing company announced plans to issue $1.2 billion of five-year convertible notes, subject to market conditions.
General Motors (NYSE:GM) stock rose 2.3% after Kyle Vogt, the CEO of the auto giant’s robot-taxi unit Cruise, resigned from the company as the company undergoes a safety review of its U.S. fleet.
Airbnb (ABNB) stock rose 2.2% after the short-term accommodation rental company appointed Ron Klain, a former top advisor to U.S. President Joe Biden, as its chief legal officer.
Boeing (NYSE:BA) stock rose 4.7% after Deutsche Bank upgraded its investment stance on the aircraft manufacturer to ‘buy’ from ‘hold’, citing increasing commercial jet deliveries.
Nikola (NASDAQ:NKLA) stock fell 4% after the electric-truck maker said Chief Financial Officer Anastasiya Pasterick would resign to "pursue other opportunities" less than a year after taking up the role.
KB Home (NYSE:KBH) declined 1.5% after analysts at Wedbush downgraded shares to Neutral from Outperform, citing competition and lack of catalysts.
Buenos Aires based energy company YPF S.A. (YPF) climbed 38% after Javier Milei won Argentina's presidential election.
Shares of Chegg (NYSE:CHGG) declined 6.4% following a downgrade by Morgan Stanley analysts to Underweight from Equal Weight. Analysts cited weaker trends observed in October and anticipated increased competition from generative artificial intelligence in the long term.
Shares of Bristol-Myers Squibb (NYSE:BMY) declined 2.6% after Bayer’s asundexian showed a lack of efficacy versus Eliquis in atrial fibrillation. The results were concerning for the Factor XIa class, including Bristol-Myers’s Milvexian.
Additional reporting by Louis Juricic
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.