Market Updates
U.S. Movers: Chegg, La-Z-Boy, Lennar, Semiconductor Stocks
Scott Peters
18 Jun, 2024
New York City
Lennar decreased 3.3% to $151.40 despite the home builder reporting better-than-expected results in the second fiscal quarter.
Chegg soared 17% to $3.05 after the online textbook and education services provider announced a restructuring, including job cuts.
The company plans to reduce its global headcount by 23% and reiterates its commitment to an operating earnings margin of 25%.
La-Z-Boy jumped 18.8% to $40.47 after the furniture maker reported better-than-expected fourth-quarter results.
Semiconductor stocks advanced and extended gains from the previous week and the previous session.
Nvidia, Qualcomm, and Micron Technology jumped between 2% and 5%, but Broadcom declined 0.2% after surging more than 20% in the previous two sessions following the announcement of a 1-for-1 stock split.
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