Top Stock Movers Now – Nvidia Vertiv Dollar Tree & More

Key Takeaways

• U.S. equities were mostly lower at midday as tech stocks dragged down the Nasdaq and S&P 500.
• Nvidia’s shares dropped on concerns about new restrictions on chip sales in China.
• Dollar Tree sold its struggling Family Dollar store to private equity firms.

The Nasdaq was down more than 1 percent at midday. The S&P 500 was also lower, while the Dow Jones Industrial Average was little changed.

Nvidia (NVDA), shares of which have fallen on fears about possible new restrictions to the chipmaker’s sale in China, has been a concern for investors.

Barclays cut its price target for Vertiv Holdings, arguing that the first-quarter revenue expectations might not be met. 

Tesla (TSLA), the electric vehicle maker, is on track to finish lower. This would end a five-day streak of success.

Dollar Tree (DLTR), a discount retailer, has seen its shares soar after selling off its struggling Family Dollar stores for $1 billion to private equity firms. Dollar General shares (DG) also rose.

Shares of Cintas (CTAS) climbed when the provider of uniforms and other workplace products posted better-than-anticipated results and boosted its profit outlook as it benefited from acquisitions.

Chewy (CHWY) shares gained when the online pet supplies retailer also posted better-than-anticipated results as it added more customers and automatic payment sales increased.

Oil futures are higher. Gold prices fell. The yield on 10-year Treasury notes was up. The U.S. Dollar rose against the euro, pound and yen. Most major cryptocurrencies traded at a lower level.