Midday movers: CrowdStrike, HPE, Intel rise; Dollar Tree falls By
2024-06-06 00:20:17
(Updated - June 5, 2024 11:40 AM EDT)

-- U.S. stock futures rose Wednesday following the release of monthly U.S. ADP private payrolls data, ahead of Friday’s key nonfarm payrolls report. The ADP data showed private sector job gains were not as strong as expected, another potential sign of cooling in the labor market, and a hopeful signal for potential Fed rate cuts.

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

Hewlett Packard Enterprise (NYSE:) surged 12% after the software consultancy reported strong quarterly earnings and presented an optimistic outlook on the back of artificial intelligence demand.

CrowdStrike (NASDAQ:) rose 7% after the cybersecurity firm raised its annual guidance following stronger-than-expected quarterly earnings.

Dollar Tree (NASDAQ:) stock fell 5% after a report that the discount retailer plans to explore options that include a potential sale or spin-off of Family Dollar.

Intel (NASDAQ:) stock gained 1.75% after buyout firm Apollo Global Management (NYSE:) agreed to purchase a 49% equity interest for $11 billion in a joint venture related to the chipmaker's Ireland manufacturing unit.

Spirit AeroSystems (NYSE:) stock was flat after the aerospace supplier said Mark Suchinski is stepping down as Chief Financial Officer. Shares initially traded lower.

WalkMe (WKME) stock soared over 40% after the German enterprise software company SAP said Wednesday it has agreed to acquire the parent of the travel and expense management platform Concur, in an all-cash deal valued at about $1.5 billion.

Deere & Company (NYSE:) stock was flat after the agriculture machinery manufacturer said it would cut an unspecified number of production and salaried jobs to save costs as it grapples with a downturn in farm equipment demand.

(NASDAQ:) (HIBB) stock fell 0.1% after the sporting good retailer reported that quarterly sales came in below estimates.

Riot Platforms (NASDAQ:) stock fell 6.5% after Kerrisdale Capital said it is short the bitcoin miner.

Snowflake (NYSE:) stock fell 4.7% following its analyst day on Tuesday. While analysts were generally positive on the stock following the event, they said Snowflake remains a 'show me' story.

Additional reporting by Louis Juricic
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