Home Editor's Picks Midday movers: Tesla, Blackstone, Las Vegas Sands fall; DR Horton rises

Midday movers: Tesla, Blackstone, Las Vegas Sands fall; DR Horton rises


(Updated – April 18, 2024 11:33 AM EDT)

Investing.com — Main U.S. indexes traded higher Thursday, attempting to rebound after recent losses ahead of the earnings from streaming giant Netflix (NASDAQ:NFLX).

Here are some of the biggest U.S. stock movers today:

Tesla (NASDAQ:TSLA) stock fell 3%, dropping to a 15-month low, after analysts downgraded the electric vehicle giant’s stock rating to ‘hold’ from ‘buy’, highlighting a “considerable risk.”

Blackstone (NYSE:BX) stock fell 2% after the world’s largest private equity firm said its first-quarter distributable earnings rose just 1% year-on-year supported by growth in fee-related earnings that was partly offset by a decline in income from asset divestments.

Alcoa (NYSE:AA) stock rose 2% after the aluminum producer’s earnings topped estimates, and it flagged steady production in 2024.carrier forecast.

Micron Technology (NASDAQ:MU) stock fell 1.3% despite reports that the memory chip maker was set to receive over $6 billion in government grants to help pay for domestic chip factory projects.

DR Horton (NYSE:DHI) stock rose 3.2% after the homebuilder posted a rise in quarterly profit, as tight housing supply in the United States lifted home sales.

Las Vegas Sands (NYSE:LVS) stock fell 6.6% despite the casino operator beating profit expectations, as underperformance at its Macau operations remained a point of concern.

Equifax (NYSE:EFX) stock plummeted nearly 5% after the credit reporting agency posted weaker-than-expected guidance after strong economic data boosted chances of interest rates staying higher-for-longer, potentially delaying a recovery in the mortgage market.

Alaska Air (NYSE:ALK) stock rose 5% after the carrier forecast current-quarter profit above estimates, driven by expectations of a strong summer season as travel demand soars.

CSX Corp. (NASDAQ:CSX) gained 2% after the railroad company published solid first quarter figures, with a slight beat on the bottom line.

Discover Financial Services (NYSE:DFS) gained 4% after it reported a profit in the first quarter. Earnings were seen as strong and protection in case its deal with Capital One Financial (NYSE:COF) is blocked.

Additional reporting by Louis Juricic

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