Micron, AT&T, Trump Media, Super Micro, Tesla, UPS, FedEx, and More Market Movers


Micron Technology

jumped 5.5% and was one of the top stocks in the S&P 500 on Monday after analysts at BofA Securities raised their price target on the chip maker to $144 from $120 and maintained their Buy rating. Analyst Vivek Arya said Micron shares have room to grow as demand for high-bandwidth memory increases.

AT&T

fell 0.6% after the telecommunications company over the weekend disclosed that personal data from millions of account holders was leaked on the dark web about two weeks ago.

AT&T

has launched an investigation and has begun notifying customers whose personal information was compromised. It also has reset the passcodes of current users. AT&T said its analysis found that the data set “appears to be from 2019 or earlier, impacting approximately 7.6 million current AT&T account holders and approximately 65.4 million former account holders.”

Trump Media & Technology Group

declined 21.5%, falling for a second-straight session after the stock rose 24% last week following its trading debut. A new regulatory filing released Monday said Trump Media lost $58.2 million in 2023 on sales of $4.13 million. Meanwhile, Barron’s reported that former President Donald Trump stands to receive 36 million additional shares of Trump Media, the owner of Truth Social, that could vest in the coming month under the terms of an earnout agreement with the company.

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Super Micro Computer

rose 2.7%. The server maker was the best-performing stock in the S&P 500 during the first three months of the year, jumping 225%.

Tesla

was the worst, falling 29%. Shares of the electric-vehicle maker fell 0.3%.

Tesla

is expected to report first-quarter deliveries on Tuesday with Wall Street cutting estimates as demand slows for all-electric vehicles. Ahead of the delivery numbers, Tesla raised prices on its Model Y in the U.S. by $1,000, according to a report from Reuters.

U.S.-listed shares of

Li Auto

rose 1.1% after the Chinese EV maker said it delivered 28,984 vehicles in March, up 39% from a year earlier. First-quarter deliveries were 80,400, up nearly 53%.

NIO

rose 3.1% and

XPeng

was up 1% after they also released deliveries data that rose sharply in March from a year earlier.

United Parcel Service

fell 0.7% after the shipping company said it received a “significant” air cargo contract from the U.S. Postal Service, expanding their partnership.

UPS

will become the postal service’s primary air cargo provider under the agreement.

FedEx

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shares fell 3.3% after the company said its contract with the postal service will expire on Sept. 29.

Microsoft

gained 0.9% to $424.57 after analysts at Jefferies raised their price target on the stock to $550 from $465 and maintained their Buy rating. Analyst Brent Thill said in a research note that Microsoft was the top winner in artificial intelligence.

Semtech

was up 6.8% after the chip maker posted better-than-expected fiscal fourth-quarter sales on Thursday and said it expects first-quarter net sales of $200 million, better than forecasts of $195.3 million.

Ballard Power Systems

rose 18% after it signed a long-term agreement with European bus manufacturer Solaris Bus & Coach for the supply of 1,000 fuel cell engines through 2027. Ballard said it was the largest order in the company’s history.

Reports are expected later in the week from

Paychex
,

Cal-Maine Foods
,

Dave & Buster’s Entertainment
,

Acuity Brands
,

Levi Strauss
,

BlackBerry
,

RPM International
,

Lamb Weston
,

Conagra Brands
,

and

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Simply Good Foods
.

Write to Joe Woelfel at joseph.woelfel@barrons.com





Read More: Micron, AT&T, Trump Media, Super Micro, Tesla, UPS, FedEx, and More Market Movers

2024-04-01 20:34:00

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