U.S. Movers: GameStop, Lands End, Merck, Robinhood Markets, Shockwave Medical, Trump Media

Scott Peters
27 Mar, 2024
New York City

Benchmark indexes on Wall Street rebounded after falling in the previous three sessions. 

The S&P 500 index increased 0.6% to 5,232.96, and the Nasdaq Composite rose 0.3% to 16,365.45. 

The yield on 2-year Treasury notes decreased to 4.58%, 10-year Treasury notes inched up to 4.22%, and 30-year Treasury bonds edged down to 4.39%.

GameStop Corp. declined 14.5% to $13.26 after the specialty retailer said fiscal fourth quarter sales declined to $1.8 billion compared to $2.2 billion a year ago. 

The company is battling the industry's shift away from physical games to online games and streaming services with subscription models. 

Net income in the quarter ending on February 3 rose to $63.1 million from $48.2 million, and diluted earnings per share advanced to 21 cents from 16 cents a year ago. 

Merck & Company increased 4% to $130.93 after the U.S. Food and Drug Administration approved the company's drug for the treatment of a lung disease. 

Robinhood Markets advanced 2.9% to $19.85 after the company launched a new credit card for its customer base and offered personal finance services. 

Lands' End soared 12.4% to $10.46 after the apparel retailer reported a wider loss, but quarterly sales were ahead of market expectations. 

Trump Media and Technology Group gained 11.8% to $64.83 and extended gains for the second day after the parent company of social media platform Truth Social made its initial public offering. 

Shockwave Medical soared 3.3% to $326.67 after the medical device company extended gains for the second day in a row on a report that the company was in talks to be acquired by Johnson & Johnson.