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Midday movers: GameStop, DocuSign fall; Lyft, Geron rise

Investing.com
·2 min read

(Updated - June 7, 2024 11:18 AM EDT)

Investing.com -- U.S. stock futures were choppy Friday after data from the Labor Department showed stronger than expected job growth in May, reducing the likelihood the Fed will begin lowering interest rates in September.

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

GameStop (NYSE:GME) slumped 20% after the video game retailer reported a sharp drop in net sales in the first quarter and said it may sell 75 million shares of common stock. Shares had been sharply higher earlier ahead of a YouTube livestream by Keith Gill, better known as “Roaring Kitty”, later Friday.

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DocuSign (NASDAQ:DOCU) stock fell 6% after the software firm’s second-quarter guidance disappointed, even as it beat expectations with its first quarter earnings.

Nvidia (NASDAQ:NVDA) stock fell 1.5%, continuing the previous session’s losses which saw the chipmaker’s market valuation slipping below the $3 trillion mark, behind that of Apple (NASDAQ:AAPL), again making it the world's third-most valuable company.

Apple (AAPL) stock rose 0.5% ahead of the iPhone maker’s next developers conference on Monday, when it’s expected to unveil details on its next major software update.

Geron (NASDAQ:GERN) stock rose 19% after the biopharmaceutical company got its first approval from the U.S. Food and Drug Administration for its blood disorder drug Rytelo.

Lyft (NASDAQ:LYFT) (LYFT) stock rose 1.5% after the ride-hailing company announced it was expecting gross bookings to grow about 15% at a compound annual rate over the next three years. Its update prompted several analyst upgrades on Friday.

J.Jill (JILL) stock rose 5.1% after the womenswear retailer posted better-than-expected first-quarter earnings, lifting its full-year sales guidance.

Yext, Inc. (NYSE:YEXT) rose 8% after Reuters reported that the company hired investment bankers to explore a potential sale.

Sherwin-Williams (NYSE:SHW) declined 4% after analysts warned about potential headwinds for demand.


Additional reporting by Louis Juricic

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