Stocks Markets That Are Moving the Most Today

The Stocks Markets were making moves Monday.- Micron Technology MU +8.40% (ticker: MU) jumped 7.9% to $63.16 after Samsung Electronics said it would make “meaningful” cuts to the production of memory chips. Analysts at Citi said Samsung has roughly half the DRAM market. “We believe a cut by Samsung is a huge positive for the DRAM industry and, combined with Micron and Hynix’s production and capex cuts, should help ensure a DRAM recovery beginning in 2H23.” The analysts reiterated their Buy rating on Micron and $75 price target. Shares of peer Western Digital (WDC) rose 7.6%.

Emergent Biosolutions (EBS) shares gained 13.6% after the biotech received an upgrade from analysts at Benchmark following recent Food and Drug Administration approval of an over-the-counter version of Narcan, a standard treatment for opioid overdoses.

Pioneer Natural Resources (PXD) was rising 6.1% following a report from The Wall Street Journal that said Exxon Mobil (XOM) had held preliminary talks with the shale driller about a possible acquisition. Discussions between the two companies about a potential deal have been informal, people familiar with the matter told the Journal. Exxon was down slightly.

Tesla TSLA –1.20% (TSLA) shares were down 1.5% following price cuts across its U.S. electric-vehicles lineup late last week. The company also said it plans to build a new factory in Shanghai to boost production of its Megapack batteries.

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Apple (AAPL) shares fell 2% following an IDC report that said shipments of traditional PCs fell 29% in the first quarter year over year, with Apple shipments falling the most compared with its peers.

Tupperware Brands (TUP) shares tumbled 48.6% after the plastic food storage manufacturer issued a going-concern warning on Friday, saying it has
hired financial advisors “to assist in securing supplemental financing, and is engaging in discussions with potential investors or financing
partners.”

Greenbrier (GBX) shares gained 9.1% after the railroad company posted better-than-expected adjusted earnings in its second quarter and raised revenue guidance.

Maintenance and cleaning products company WD-40 (WDFC) fell 6.4% after slashing its earnings guidance for fiscal 2023.

Cinemark Holdings (CNK) shares gained 6.6% after the movie theater company said Saturday, April 8., “captured the highest single day of attendance for the company since Christmas Day of 2019,” led by The Super Mario Bros. Movie, Air, John Wick: Chapter 4, and other films. AMC Entertainment (AMC) was up 7.9% after it reported its busiest weekend of 2023.

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Block (SQ) shares fell 3.1% after the payments company was downgraded to Stocks Markets Perform from Outperform by analysts at Keefe Bruyette.

American depositary receipts of Taiwan Semiconductor Manufacturing (TSM) fell 2.1% after the chip maker posted a 3.6% jump in first-quarter revenue but said revenue in March fell 15% from a year earlier, the first year-over-year monthly decline in almost four years.