Top Stock Movers Now: Broadcom, Supermicro, RH, and More
Key Takeaways
Major U.S. indexes were slightly lower at midday Friday as the markets took a break from their record-setting performance following the presidential election last month. The Dow, S&P 500, and Nasdaq all lost ground.
Super Micro Computer (
SMCI
) shares tumbled amid concerns the computer server maker’s stock could be knocked off the Nasdaq 100 Index.
Shares of Charles Schwab (
SCHW
) also fell as the discount brokerage and asset manager reported its
sweep cash
in November was flat from the month before.
EVgo (
EVGO
) shares took off after the federal government granted the electric vehicle charging station network $1.25 billion in loan guarantees.
Broadcom (
AVGO
) was the best-performing stock in the S&P 500, with shares hitting an all-time high after the chipmaker
posted better-than-expected results
and projected strong demand for its
artificial intelligence (AI)
products.
Shares of Penn Entertainment (
PENN
) gained as the casino operator got an
upgrade and price target hike from JPMorgan
, anticipating growth as its investments begin to pay off.
RH (
RH
) shares soared after the home furnishings retailer
boosted its full-year outlook and swung to a profit
, despite a weak housing market.
Oil futures rose and gold prices dropped. The yield on the 10-year Treasury note advanced. The U.S. dollar was up on the pound and yen, but lost ground to the euro. Most major cryptocurrencies traded lower.