{"id":13013,"date":"2023-05-24T05:44:15","date_gmt":"2023-05-24T09:44:15","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/broadcom-yelp-zoom-video-integra-pacwest-and-more-stock-market-movers\/"},"modified":"2023-05-24T05:44:16","modified_gmt":"2023-05-24T09:44:16","slug":"broadcom-yelp-zoom-video-integra-pacwest-and-more-stock-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13013","title":{"rendered":"Broadcom, Yelp, Zoom Video, Integra, PacWest, and More Stock Market Movers"},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

Stocks fell Tuesday as a deal to raise the U.S. debt ceiling remained elusive. <\/p>\n

These stocks were making moves Tuesday:\u00a0<\/p>\n

\n Broadcom
\n (ticker: AVGO) stock was rising after it signed a new multiyear, multibillion-dollar agreement with
\n Apple
\n (AAPL) to make 5G radio frequency components and wireless chips for the tech giant.
\n Broadcom
\n shares rose 1.2%, while
\n Apple
\n fell 1.5%. <\/p>\n

\n

The Wall Street Journal reported that activist investor TCS Capital Management has built a stake in\u00a0
\n Yelp
\n (YELP), the provider of local-market restaurant and business recommendations and is calling on the company to explore strategic alternatives including a sale. TCS Capital owns more than 4% of
\n Yelp
\n \u2018s outstanding common shares, making it one of the company\u2019s five biggest shareholders, people familiar with the matter told the Journal. Yelp shares jumped 5.7%.<\/p>\n

\n Zoom Video Communications
\n (ZM)\u00a0was down 8.1%. The videoconferencing company reported fiscal first-quarter adjusted earnings and revenue that topped Wall Street expectations. Zoom Video also issued an upbeat forecast, saying it expects fiscal-year adjusted earnings of $4.25 to $4.31 a share on revenue of $4.47 billion to $4.49 billion, above analysts\u2019 forecasts that called for profit of $4.21 a share on revenue of $4.45 billion.<\/p>\n

\n Integra LifeSciences
\n (IART) slid 20% after the regenerative tissue technologies company issued disappointing earnings guidance, announced a product recall, and received a downgrade to Sell from Neutral by analysts at Citi. <\/p>\n

\n PacWest Bancorp
\n (PACW) was up 7.7%, extending sharp gains from Monday after the regional lender said it would sell a portfolio of 74 real estate construction loans with a total balance of about $2.6 billion outstanding to\u00a0
\n Kennedy-Wilson Holdings
\n \u00a0(KW).<\/p>\n

\n Tesla
\n (TSLA) shares fell 1.6%. Shares of the electric-vehicle company rose 4.9% on Monday, a move that followed
\n Ford
\n \u2018s (F) investor day, in which the auto maker committed to building its roster of electric vehicles.<\/p>\n

\n Myriad Genetics
\n (MYGN) climbed 13% after receiving a double upgrade from analysts at Goldman Sachs, who commended the genetics testing company for successfully improving its business. <\/p>\n

\n BJ\u2019s Wholesale Club
\n (BJ) shed 7.3% after the retailer posted first-quarter revenue below consensus. <\/p>\n

\n AutoZone
\n (AZO) fell 5.9% after the automotive replacement parts maker beat earnings estimates in its fiscal third quarter but net sales and domestic same-store sales missed consensus. It was the worst performer in the
\n S&P 500.<\/span><\/p>\n

Moderna
\n (MRNA) was the index\u2019s top performer, rising 8.7%. <\/p>\n

\n Lowe\u2019s
\n (LOW) reported first-quarter adjusted earnings of $3.67 a share, beating analysts\u2019 estimates of $3.45, and the stock was up 1.7% after the home-improvement retailer cut its profit and sales outlook for the fiscal year.<\/p>\n

\n Chevron
\n (CVX) gained 2.9% to $157.05 after receiving an upgrade to Buy from Hold by analysts at HSBC and a price target raise to $198 from $192 by analysts at Morgan Stanley\u2014a day after the company announced it will acquire
\n PDC Energy
\n (PDCE) in an all-stock transaction valued at $6.3 billion. <\/p>\n

Steel producers
\n Steel Dynamics
\n (STLD) and
\n Nucor
\n (NUE) each were initiated with Underweight ratings by analysts at J.P. Morgan, and shares fell 1.4% and 2.1%, respectively. <\/p>\n

Write to Joe Woelfel at joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks fell Tuesday as a deal to raise the U.S. debt ceiling remained elusive. These stocks were making moves Tuesday:\u00a0 Broadcom (ticker: AVGO) stock was rising after it signed a new multiyear, multibillion-dollar agreement with Apple (AAPL) to make 5G radio frequency components and wireless chips for the tech giant. Broadcom shares rose 1.2%, while […]<\/p>\n","protected":false},"author":1,"featured_media":13014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-13013","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBroadcom, Yelp, Zoom Video, Integra, PacWest, and More Stock Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks fell Tuesday as a deal to raise the U.S. debt ceiling remained elusive. 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