Top Stock Movers Now: US Steel, VF Corp., ResMed, and More
Key Takeaways
Major U.S. indexes were little changed at midday Wednesday, ahead of the Federal Reserve’s
decision on interest rates
, with the central bank widely expected to deliver its first interest rate cut since 2020.
U.S. Steel (
X
) shares gained
following reports
Nippon Steel has been allowed by Biden administration officials to refile its plans to purchase U.S. Steel, pushing the review period for the $14.9 billion deal past the November elections.
Shares of Intuitive Machines (
LUNR
) skyrocketed after the space communications and navigation services provider
received a contract
worth up to $4.82 billion from the National Aeronautics and Space Administration (NASA) to assist in moon exploration.
VF Corporation (
VFC
) shares jumped as Barclays upgraded the stock, pointing to a turnaround in its Vans brand.
ResMed (
RMD
) shares tumbled zs Wolfe Research downgraded the stock amid concerns the sleep apnea device maker’s revenue could be hurt by competition from weight-loss medicines.
Shares of Cencora (
COR
) dropped on a report the drug distributor paid $75 million to hackers in what could reportedly be the biggest cyberattack ransom payoff ever.
Ebay (
EBAY
) shares declined when the online retailer’s CFO sold more than $1.9 million in the company’s stock.
Oil futures fell, and gold prices rose. The yield on the 10-year Treasury note advanced. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded lower.
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