Twitter, IAC, Nvidia, Conagra: what to watch on the stock market today
U.S. stocks rose in morning trading after Republicans proposed an extension of the short-term debt limit, helping to stave off immediate concerns about a possible government default. Here’s what we’re watching ahead of Thursday’s opening.
Twitter TWTR 2.68%
shares rose 2.4% after the company announced it was selling mobile advertising company MoPub to AppLovin APP 7.25%
for $ 1.05 billion in cash. AppLovin jumped 13%.
Barry Diller’s media conglomerate IAC / InteractiveCorp. CAI 6.08%
climbed 2.5% after closing a $ 2.7 billion deal to buy Meredith,
a magazine publisher with brands such as People and InStyle. Meredith shares rose 6.3%.
- Megacap tech companies advanced as government bond yields edged down. Apple,
Microsoft MSFT 0.43%
and Nvidia NVDA 1.79%
grew by more than 1% each, and Square SQ 3.52%
was up 4%.
Tilray TLRY -3.06%
shares fell 3.3% after the cannabis company said its first-quarter net loss widened.
Lamb Weston LW -8.85%
shares fell 8.4% after the potato and vegetable company reported first quarter earnings and sales that beat expectations.
- Manufacturer of household and personal care products Hélène de Troie HELE 8.06%
climbed 7.6% after raising its outlook for fiscal 2022.
Moderna mRNA 1.85%
stocks gained 1.9%. He presented plans to build a vaccine manufacturing plant in Africa. As of Wednesday’s close, the stock had lost more than 20% of its value this month so far.
ACCD Award 1.30%
will post the winnings after the close.
Card of the day
- Airlines shares have gained more than 10% over the past month, as broad stock markets have fallen. However, this is only a partial rebound from a bad summer for aviation stocks, including those of aircraft manufacturers. Only shares of low-cost airlines are currently trading above their pre-Covid levels.
Write to Anna Hirtenstein at firstname.lastname@example.org
Corrections and amplifications
Stock futures were up before the market opened on Thursday. An earlier version of this article incorrectly stated that the move was on Wednesday.
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