Top Stock Movers Now: Dollar Tree, CrowdStrike, Nvidia, and More
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Key TakeawaysU.S. equities were higher at midday Wednesday, June 5, 2024, as Nvidia shares reached a fresh record high and a report showed private sector hiring gains slowed in May.Hewlett Packard Enterprise shares surged after the company reported earnings that beat estimates on demand for artificial intelligence servers.Dollar Tree shares fell as the company said it is considering selling off its Family Dollar stores.
U.S. equities were higher at midday as a report showed private sector hiring gains slowed in May, raising optimism the Fed could cut interest rates this year. Nvidia (NVDA) shares also reached a fresh record high, helping lift the S&P 500 and Nasdaq. The Dow was little changed.Hewlett Packard Enterprise (HPE) was the best-performing stock in the S&P 500 after the information technology provider posted better-than-expected results as rising demand for artificial intelligence (AI) servers boosted sales.Shares of CrowdStrike Holdings (CRWD) jumped after the company also beat estimates and raised its guidance as customers increased purchases of its cybersecurity products.HanesBrands (HBI) shares advanced after the clothing manufacturer agreed to sell its Champion sportswear label to Authentic Brands Group for at least $1.2 billion. Dollar Tree (DLTR) shares slumped as the discount retailer said it was exploring options, including possibly selling off its struggling Family Dollar stores.Shares of Brown-Forman (BF.A) dropped after the spirits maker’s revenue missed forecasts as demand for its top-selling brand, Jack Daniel's Tennessee Whiskey, continued to decline.Thor Industries (THO) shares lost ground after the recreational vehicle (RV) maker slashed its guidance, warning about challenging market conditions in North America.Oil and gold prices advanced. The yield on the 10-year Treasury note lost ground. The U.S. dollar climbed versus the euro and yen, but slipped against the pound. Most major cryptocurrencies traded higher.
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