U.S. Movers: Alphabet, Hasbro, Lucid Group, Oracle

Scott Peters
12 Dec, 2023
New York City

Lucid Group decreased 2.8% to $4.48 after the company said chief financial officer Sherry House is resigning, effective immediately, to pursue other opportunities.

Ms. House will be available in an advisory role through the end of the year to assist in the transition of her duties.

Hasbro declined 5.3% to $46.30 after the toymaker announced its plan to lay off 1,100 workers, according to a memo cited by CNBC.

"The toymaker is grappling with soft sales that have continued into the holiday season and are “likely to persist into 2024,” chief executive Chris Cocks said in the memo to internal staff.

Alphabet Inc. decreased 0.7% to $132.33 after a federal jury in California ruled against the company's Google Android App Store filed by Fortnite video game maker Epic Games.

In a unanimous verdict, the jury said that the company's Android app Store has violated antitrust laws and secured billions of dollars in profit by forcing Play Store customers to use its high-priced payment processing.

Google said it plans to challenge the jury verdict, and the company will appeal the decision.

Oracle Corp. declined 8.9% to $104.91 after the database giant reported weaker-than-expected revenue in the fiscal second quarter.

The company reported weaker-than-estimated revenue in the cloud segment and database license support.

Revenue in the fiscal second quarter ending in November increased 5% to $12.9 billion, net income advanced $2.5 billion from $1.74 billion, and diluted earnings per share 89 cents from 63 cents.  

The company announced cash dividend of 40 cents to shareholders on record on January 11, 2024 and payable on January 25, 2024.