Midday movers: Boeing, Meta Platforms and more

(Updated – January 10, 2024 12:08 PM EST)

Investing.com — Main U.S. indexes were slightly higher as investors adopted a “wait-and-see” approach ahead of the release of the key monthly inflation data later in the week.

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

Boeing (NYSE:) stock rose 1.5%, attempting to rebound after a drop of 9% over the last two sessions in the wake of the mid-air blow-out of a door panel on one of its 737 Max aircraft last week, even as Chief Executive Dave Calhoun admitted that it was “our mistake.”

Tesla (NASDAQ:) declined 0.7% as EV stocks traded lower. NIO Inc. (NIO)
declined 2.5% and Rivian Automotive (NASDAQ:) was down 1%.

Coinbase (NASDAQ:) stock fell 1.8% in the wake of the sell off in bitcoin after the post on the popular social media platform X, which appeared to show that the U.S. Securities and Exchange Commission had for the first-time approved exchange traded funds, proved to be false.

Dow (DOW) stock fell 1% after Deutsche Bank downgraded the chemicals firm to ‘hold’ from ‘buy’.

Etsy (NASDAQ:) stock fell 2.3% after Goldman Sachs downgraded its stance on the craft supplies-focused e-commerce group to ‘neutral’ from ‘buy’, saying the current Wall Street estimates fully capture the company’s growth potential.

Duke Energy (NYSE:) stock rose 0.4% after RBC Capital upgraded the power company to ‘outperform’ from ’sector perform’, saying it is entering 2024 in a strong position.

Woodward (NASDAQ:) stock rose 3.1% after Goldman Sachs upgraded the aerospace manufacturer to ‘buy’ from ‘sell’, saying it is positioned favorably to benefit from the ramp-up in aerospace original equipment manufacturing.

Home Depot (NYSE:) stock rose 1.7% after Wedbush upgraded the home improvement chain to ‘outperform’ from ‘neutral’, on expectations of strong demand in 2024.

Meta Platforms (NASDAQ:) stock climbed 3.6%, extending gains throughout the morning after shares hit a 52 week high. Earlier analysts at Mizhuho raised their price target on the stock to $470.

Intuitive Surgical, (Nasdaq: NASDAQ:) shares climbed 6.5% after it said it expects fourth quarter 2023 revenue of approximately $1.93 billion, an increase of 17% compared with $1.66 billion in the fourth quarter of 2022. Consensus was expecting revenue of $1.87 billion.

Lennar Corporation (NYSE:) climbed 2.5% after the homebuilder raised its dividend and announced a buyback of $5 billion.

Illinois Tool Works (NYSE:) declined 1% after analysts at BofA downgraded the stock to ‘underperform’ from ‘neutral’, citing concerns about margins.

Additional reporting by Louis Juricic