Market Updates
U.S. Movers: China-linked ADRs, Micron Technology, Southwest Airlines
Scott Peters
26 Sep, 2024
New York City
Micron Technology soared 17% to $111.87 after the advanced semiconductor company reported better-than-expected quarterly results.
The company also estimated higher revenue and earnings in the current quarter.
Southwest Airlines Company increased 9.8% to $31.26 after the regional airline announced its stock buyback plan of $2.5 billion.
The company also said its third quarter revenue is expected to rise as much as 3% compared to its previous estimate of a decline of 2%.
The company also announced a host of other changes to its business model and named Bob Fornaro, who previously led Spirit Airlines, to its board of directors.
China-linked stocks soared for the third day in a row after China's politburo announced their commitment to revive economic growth to 5%.
JD.com, Alibaba Group, Tencent Holdings, and Baidu jumped between 5% and 9%.
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