Market Updates
U.S. Movers: Carnival Corp, Microsoft, Nvidia, Pool Corp, Sea Limited
Scott Peters
25 Jun, 2024
New York City
Pool Corp. declined 7.3% to $313.10 after the wholesale pool supply distributor lowered its full-year earnings outlook.
Sea Limited decreased 2.8% to $73.75 after the Singapore-based online games developer was downgraded by J.P. Morgan to "neutral" from "overweight."
SolarEdge Technologies declined 15.8% to $28.07 after the company said it plans to raise $300 million through the sale of convertible notes expiring in 2029.
Carnival Corp. rose 5.3% to $17.27 after the cruise line operator reported stronger-than-estimated second quarter results, and the company lifted its net yield and adjusted its net income outlook for the year.
The largest cruise company also said bookings for 2025 are ahead of those for 2024.
Nvidia rebounded 3% to $121.67 after falling more than 13% in the last three trading sessions and briefly surpassing Microsoft's market cap.
In yesterday's trading, Nvidia declined more than 6%, its worst one-day decline since April, dragging down with it other semiconductor stocks and the Nasdaq Composite.
Microsoft increased 0.2% to $448.52, and the European Commission, the executive arm of the European Union, said that the software company is "abusive" bundling its office productivity software, Office 365, with messaging and collaboration software, Team.
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