{"id":31606,"date":"2023-07-05T08:17:06","date_gmt":"2023-07-05T12:17:06","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/amazon-microsoft-rivian-ups-netflix-and-more-stock-market-movers\/"},"modified":"2023-07-05T08:17:07","modified_gmt":"2023-07-05T12:17:07","slug":"amazon-microsoft-rivian-ups-netflix-and-more-stock-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=31606","title":{"rendered":"Amazon, Microsoft, Rivian, UPS, Netflix, and More Stock Market Movers"},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

Stock futures were declining Wednesday\u00a0as Wall Street returned from the Independence Day holiday with weak China services activity data denting sentiment. Later in the trading day investors will be monitoring the minutes from the Federal Reserve\u2019s meeting in June.<\/p>\n

These stocks were poised to make moves Wednesday:\u00a0<\/p>\n

\n

\n Amazon.com
\n (ticker: AMZN) was down 0.3% in premarket trading and
\n Microsoft
\n (MSFT) fell 0.7% following a report from The Wall Street Journal that said the U.S. was preparing to restrict Chinese companies\u2019 access to U.S. cloud-computing services. If adopted, the rule likely would require
\n Amazon
\n and
\n Microsoft
\n to seek approval from the U.S. government to provide cloud services that use advanced artificial-intelligence chips to Chinese customers,\u00a0the Journal reported.<\/p>\n

The move from the Biden administration would follow China\u2019s announcement on Monday that it was restricting exports on gallium and germanium, components that are key to the production of semiconductors.<\/p>\n

\n Rivian Automotive
\n (RIVN) was rising 7.8% after second-quarter production at the electric-vehicle maker nearly tripled. Rivian made 13,992\u00a0electric vehicles in the period\u00a0and sold 12,640 units. The stock gained more than 17% on Monday, the day the production figures were released. <\/p>\n

\n Lumentum
\n (LITE) fell 4.5% after shares of the maker of commercial lasers were downgraded to Underweight from Equal Weight at
\n Barclays.<\/span>\n <\/p>\n

\n United Parcel Service
\n (UPS) dropped 2.6% in premarket trading after the Teamsters Union said contract talks with management of the shipping giant have stalled. <\/p>\n

\n Coinbase Global
\n (COIN) was down 2.1% to $78.25 in premarket trading after shares of the crypto trading platform were downgraded to Neutral from Overweight at
\n Piper Sandler.<\/span>
\n The price target was lowered to $60 from $65.<\/p>\n

\n BioMarin Pharmaceutical
\n (BMRN) rose 2.1% after the biopharmaceutical company was upgraded to Outperform from Market Perform at BMO Capital.<\/p>\n

\n Netflix
\n (NFLX) gained 0.8% to $444.85 in premarket trading as shares of the streaming giant were upgraded to Neutral from Sell by analysts at Goldman Sachs, who also boosted the stock\u2019s price target to $400 from $230.
\n Netflix
\n reports second-quarter earnings on July 19. <\/p>\n

\n Tesla
\n (TSLA) fell 0.4% in premarket trading. Shares jumped 6.9% on Monday after the company delivered a record number of EVs in the second quarter and blew away expectations. <\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

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

Stock futures were declining Wednesday\u00a0as Wall Street returned from the Independence Day holiday with weak China services activity data denting sentiment. Later in the trading day investors will be monitoring the minutes from the Federal Reserve\u2019s meeting in June. These stocks were poised to make moves Wednesday:\u00a0 Amazon.com (ticker: AMZN) was down 0.3% in premarket […]<\/p>\n","protected":false},"author":1,"featured_media":31607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-31606","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nAmazon, Microsoft, Rivian, UPS, Netflix, and More Stock Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stock futures were declining Wednesday\u00a0as Wall Street returned from the Independence Day holiday with weak China services activity data denting sentiment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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