Solar

Apple

Pack

Amgen

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">One of the highlights of today’s market so far is Apple’s (NASDAQ: AAPL) rise to $184.55 at the time of writing, up over 6.5% after the tech giant announced <a aria-label="a record-setting $110 billion stock buyback (opens in a new tab)" href="https://www.reuters.com/technology/apple-unveils-record-110-billion-buyback-results-beat-low-expectations-2024-05-02/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">a record-setting $110 billion stock buyback</a>. Amgen (NASDAQ: AMGN) is also seeing impressive gains due to the <a aria-label="excitement surrounding its weight-loss drug (opens in a new tab)" href="https://finance.yahoo.com/news/amgen-soars-ceo-gives-experimental-212926077.html" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">excitement surrounding its weight-loss drug</a>. Notable losers today include Expedia (NASDAQ: EXPE) and Fortinet (NASDAQ: FTNT).</p>
<h3 id="amgen-live-nation-entertainment-and-apple-lead-the-pack">Amgen, Live Nation Entertainment, and Apple Lead the Pack</h3>
<p>Amgen led the pack with an impressive 12.79% surge, reaching a live price of $314, up from the previous close of $278.39. Wall Street’s excitement over the company’s weight-loss drug fueled this remarkable increase, marking Amgen’s best day since 2009. Live Nation Entertainment (NYSE: LYV) followed closely with an 8.64% increase, as its stock price climbed to $95.9 from $88.27, driven by a boom in concert ticket sales that led to revenue outperforming estimates.</p>
<p>Apple also had a strong showing, rising by 6.66% to hit $184.55, up from $173.03. The company’s announcement of a $110 billion buyback and a positive earnings report propelled this jump, resulting in its most significant rally in 18 months. <br><br>Enphase Energy (NASDAQ: ENPH) gained 6.42%, with its price moving to $112.87 from $106.06, as the company’s expansion of deployments in Florida showcased strong investor interest. Booking Holdings (NASDAQ: BKNG) went up by 5.3%, reaching $3,657.09 from $3,472.91, as analysts adjusted their price targets <a href="https://www.streetinsider.com/Analyst+Comments/Booking+Holdings+%28BKNG%29+PT+Raised+to+%244%2C150+at+DA+Davidson/23167502.html" target="_blank" aria-label="upwards (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">upwards</a>, reflecting confidence in the company’s growth.</p>
<p>Other notable gainers included Constellation Energy (NASDAQ: CEG) with a 5.12% rise, Digital Realty Trust (NYSE: DLR) with a 5.1% increase, Motorola Solutions (NYSE: MSI) advancing by 4.98%, Builders FirstSource (NYSE: BLDR) and First Solar (NASDAQ: FSLR) both seeing a 4.63% increase, and Arista Networks (NYSE: ANET) rising by 3.98%. These increases were driven by various factors, such as <a href="https://tokenist.com/investing/stocks-that-pay-dividends/" rel="noopener noreferrer nofollow" class="deco-link">dividend declarations</a>, <a href="https://tokenist.com/3-small-cap-ai-stocks-with-serious-growth-potential/" class="deco-link" rel="noopener noreferrer nofollow">AI stock plays</a>, adjusted price targets, positive analyst reports, and strong corporate performance.</p>
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<h3 id="expedia-and-fortinet-among-notable-declines-today">Expedia and Fortinet Among Notable Declines Today</h3>
<p>On the other hand, several stocks experienced notable declines. Illumina (NASDAQ: ILMN) dropped by 3.09%, with its price at $120.16, down from $123.99, following mixed analyst adjustments and a widening adjusted operating loss. <br><br>Eli Lilly (NYSE: LLY) fell by 3.16%, with its price at $732.03, down from $755.91, amidst a competitive weight-loss drug market affecting investor sentiment. Cardinal Health (NYSE: CAH) decreased by 4.18%, with its live price at $98.68, down from $102.98, due to a missed earnings expectation and concerns over <a aria-label="FDA warning (opens in a new tab)" href="https://www.medtechdive.com/news/cardinal-warning-letter-unapproved-syringes/714934/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">FDA warning</a>s related to unapproved syringes.</p>
<p>Trimble (NASDSAQ: TRMB) saw a 5.08% decline, with its price at $57.04, down from $60.09, as the company’s downbeat quarterly forecast contributed to the negative movement. Ingersoll Rand (NYSE: IR) dropped by 6.54%, with its price at $86.78, down from $92.85, following earnings that, despite beating expectations, did not meet investor optimism.</p>
<p>DaVita (NYSE: DVA) fell by 6.71%, with its price at $132.69, down from $142.24, linked to a challenging healthcare market and investor reactions to quarterly results. Fortinet experienced an 8.18% decrease, with its live price at $59.87, down from $65.20, following a mixed earnings report and downward adjustments by analysts. Expedia plummeted by 13.85%, with its price at $117.24, down from $136.09, attributed to a disappointing earnings report and lowered price targets by analysts.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: Data in the article is accurate as of 3rd May 2024, 11:18 AM EDT.</em><br><br><strong><em>Do you think Apple’s stock buyback is out of the ordinary? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/market-movers-today-apple-amgen-expedia-fortinet/">Market Movers Today: Apple, Amgen, Expedia, Fortinet</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Market Movers Today: Apple, Amgen, Expedia, Fortinet

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