Top Movers
By Mackenzie Crow
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The U.S. stock market is experiencing a slight downturn in the midst of anticipation for upcoming inflation data and the Federal Reserve's rate decision. With the S&P 500 Index down by 0.2%, the Nasdaq 100 falling by 0.5%, and the Dow Jones Industrial Average slipping by 0.1%, investors are closely watching the market's reaction to various corporate developments and economic indicators.
Today's trading session has seen a mix of significant gains and losses across different sectors. Amplify Energy's (AMPY) shares rose by 12% as the company addressed concerns about a recent oil sheen, asserting its operations were not the cause. Bally’s (BALY) experienced a notable 25% jump following a buyout proposal from Standard General, while Choice Hotels (CHH) saw a 4.6% increase after canceling a merger attempt with Wyndham Hotels & Resorts.
Conversely, Boeing (BA) faced a 2.9% decline amid negative press and a criminal investigation into a recent incident. Financial Institutions (FISI) also dropped by 2.8% due to reported fraudulent activities within its subsidiary, Five Star Bank.
James River Group Holdings (JRVR) took a significant hit, falling 21% after filing a complaint to compel an acquisition completion. MannKind (MNKD) saw an end to its 10-session gain streak, with an 11% decrease in its stock. Meta Platforms Inc. (META) also experienced a 4% decline following comments by former president Donald Trump regarding TikTok.
On a positive note, Moderna (MRNA) surged by 8.9% as it begins a mid-stage study on its experimental cancer vaccine. NextNav (NN) leaped by 28% after announcing an agreement to acquire additional spectrum licenses, showcasing the potential for growth in the geolocation technology sector. Ventyx Biosciences (VTYX), however, faced a 22% slump as it announced plans to advance its inflammatory program into trials.
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