Norwegian, Carnival, HP Inc., Nvidia, AMC, AT&T, and more stock market movers

Norwegian Cruise Line (ticker: NCLH) and Carnival (CCL) have been upgraded to buy from Neutral in Redburn. Norwegian shares gained 4.2%, while Carnival shares rose 3.8%. Redburn analysts maintained their recommendation for Royal Caribbean (RCL) at Neutral. Royal Caribbean shares rose 1.3%.

HP Inc stock fell. (HPQ) rose 3.1% after Warren Buffett’s Berkshire Hathaway (BRK.B) revealed that it had sold 5.5 million shares in the personal computer and printer maker. This was the first sale of HP stock
a company.

Since Berkshire Hathaway acquired a 12% stake in the company in early 2022.

Arm Holdings’ IPO was priced at $51 per share, at the top of the expected range, giving the chip design company a valuation of $54.5 billion on a fully diluted basis. Arm shares will begin trading Thursday on the Nasdaq under the stock symbol “ARM.” Before Arm’s debut, shares of its fellow chipmakers traded mixed. Nvidia (NVDA) shares rose 0.1%, US-listed Taiwan Semiconductor Manufacturing (TSM) shares rose 0.9%, Intel (INTC) shares fell 0.8%, and Qualcomm (QCOM) shares rose 0.7%.

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AMC Entertainment (AMC) stock rose 4.4% after the movie theater chain Completed stock market offeringraising about $325.5 million.

AT&T (T) stock jumped 3.3% after the telecom company said it expects third-quarter free cash flow of $4.5 billion to $5 billion.

Semiconductor supplier Semtech (SMTC) forecast a fiscal third-quarter loss of 9 cents to 22 cents per share on revenue of $190 million to $210 million. Analysts had estimated adjusted earnings of 12 cents per share on revenue of $247.7 million. However, the stock rose 2.6% after falling earlier in the session.

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(ETSY) rose 2.6% to $66.22 after the online market upgraded to Outperform from Peer Performance at Wolfe Research with a price target of $100.

First Solar (FSLR) rose 1% after the solar technology company was upgraded to outperform from market performer at BMO Capital. The stock fell 5.8% on Wednesday.

Ford (F) stock was down 0.2% and General Motors (GM) stock was down 0.6% ahead of a late Thursday deadline for the United Auto Workers union strike. UAW President Sean Fine said late Wednesday that the union and the Big Three automakers, including Stellantis (STLA), remain “very far apart” on the union’s key priorities regarding wage increases, and that the UAW is preparing to strike. The three companies new tactics just after 11:59pm on Thursday.

Delta Air Lines (DAL) stock was trading stable. The airline cut its third-quarter earnings guidance to a range of $1.85 to $2.05 per share from a previous range of $2.20 to $2.50, but its revenue outlook was upbeat.

Earnings reports are expected after the closing bell on Thursday from software company Adobe (ADBE), homebuilder Lennar (LEN), and online auto auction.

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Copart (CPRT).

Write to Joe Woelfel at [email protected]

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