Boeing, GameStop, Robinhood, Micron, and More Stocks That Explain Today’s Market
Traders working at the New York Stock Exchange. (NYSE)
Key Points
- Stocks rose Wednesday as investors hoped falling oil prices would encourage the Federal Reserve to keep interest rates unchanged next month.
- Boeing shares rose after winning a multi-billion dollar Navy fighter jet contract, while competitor Northrop Grumman slid.
- Concentrix shares slumped after missing its third-quarter revenue target amid a costly shift toward artificial-intelligence tools.
Stock futures were rising on Wednesday as investors hoped that a recent drop in oil prices would strengthen the case for the Federal Reserve to keep interest rates unchanged next month.
Boeing rose 3.1% ahead of the opening bell after the plane maker won a multibillion-dollar contract to make a Navy fighter jet. Boeing was competing with Northrop Grumman , which slid 3.5%.
GameStop climbed 1.3% after the videogame retailer disclosed that its CEO Ryan Cohen acquired 450,000 shares of common stock for $23.48 a share on Tuesday.
Robinhood advanced 2.2%. The online trading platform said at a summit in Houston that it would roll out artificial-intelligence agents that can trade on users’ behalf and launch 24/7 weekend trading for equities.
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Ameriprise Financial dropped 9.2% after the financial planning company said its board had signed off on spending an additional $5.5 billion buying back shares of its common stock through Sept. 30, 2028.
Concentrix slumped 11% after the business processing outsourcing company missed analysts’ third-quarter revenue target as it struggles to navigate a costly shift toward AI-powered tools.
Cal-Maine Foods, Conagra Brands, FactSet Research Systems, and Jabil are set to report earnings before Wednesday’s opening bell. Memory-chip maker Micron is due to report after the close.
Write to George Glover at george.glover@dowjones.com
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