©Reuters
(Updated Feb 22, 2024 11:22am EST)
Investing.com – Major US indexes rose sharply on Thursday after blockbuster results from Nvidia (NASDAQ:) helped boost sentiment, ahead of the release of further corporate earnings and key economic data.
Here are some of the biggest US stock moves today
Nvidia (NVDA) shares rose 15% after the world’s most valuable chipmaker reported better-than-expected fourth-quarter revenue and outlined a bullish forecast for AI-fueled chip demand.
Palantir Technologies (NYSE:), Advanced Micro Devices (NASDAQ:), and Super Micro Computer (NASDAQ:) all posted notable gains, benefiting from Nvidia’s strong outlook.
Modern (NASDAQ:) shares rose 9.5% after the pharmaceutical company reported a surprise profit in the fourth quarter, helped by cost cutting and some deferred payments.
Etsy (NASDAQ:) shares fell 7% after the e-commerce company warned of a decline in gross merchandise sales in the first quarter due to weak demand for handcrafted items and personalized gifts sold on its online marketplace .
Shares of Rivian (NASDAQ:) tumbled more than 27% after the electric truck maker reported annual production forecasts below Wall Street estimates and announced deep job cuts.
Southwest Airlines (NYSE:) shares rose 1% after the airline said it had reached a tentative agreement with the transportation workers union representing nearly 18,000 ramp, operations, supply and cargo agents.
Royal Caribbean (NYSE:) shares rose 8% after the cruise operator raised its full-year earnings forecast, saying it was encouraged by both the “demand and pricing environment” in 2024.
Cheniere Energy (NYSE:) shares fell 3.7% after the liquefied company reported a 38.5% decline in full-year LNG revenue, hurt by falling natural gas prices.
Fiverr International (NYSE:) shares fell 9% after the online freelance marketplace missed expectations with fourth-quarter results, while next quarter’s revenue forecast of $92.5 million was also disappointing .
Wayfair (NYSE:) shares rose 7% after the online furniture retailer reported a narrower-than-expected fourth-quarter loss and said it had returned to positive active customer growth.
Additional reporting by Louis Juricic