Top News in the Stock Market Today
Quantum Stocks Plunge After Zuckerberg's Comments
Quantum stocks took a hit following remarks from Mark Zuckerberg and Nvidia CEO Jensen Huang, with Rigetti Computing and D-Wave Quantum seeing significant drops.Managed Care Stocks on the Rise
Managed care stocks saw gains after the US government proposed a reimbursement rate increase for Medicare Advantage plans, with Humana, UnitedHealth, and CVS Health all rising.Boot Barn Guides Higher
Boot retailer Boot Barn's guidance for third-quarter earnings exceeded expectations, leading to a 4% jump in its stock price.Pinterest Slides After Downgrade
Pinterest shares dropped after a downgrade from Jefferies, citing underwhelming growth forecasts for the company.Crypto Stocks Decline with Bitcoin
Stocks tied to the price of bitcoin fell as the cryptocurrency dipped, affecting companies like Coinbase and MicroStrategy.Lululemon Sees Strong Demand
Lululemon reported strong holiday sales, leading to a 3% increase in shares and an upward revision of its sales and earnings guidance.Macy's Issues Lackluster Guidance
Macy's shares fell after issuing a disappointing update to its fourth-quarter guidance, with revenue expected to fall below previous estimates.Abercrombie & Fitch Raises Outlook
Despite a plunge in premarket trading, Abercrombie & Fitch raised its fourth-quarter sales outlook on strong holiday sales expectations.Howard Hughes Holdings Soar
Shares of real estate developer Howard Hughes Holdings jumped 9% after a proposal from Bill Ackman's Pershing Square for a new entity merger.Tech Stocks Tumble as Treasury Yields Rise
Megacap tech stocks like Nvidia, Tesla, and Palantir Technologies saw losses as US Treasury yields increased.Moderna Lowers Sales Guidance
Biotech firm Moderna saw a 20% drop after lowering its 2025 sales guidance, citing potential headwinds in the coming year.- Intra-Cellular Therapies Acquired by Johnson & Johnson
Intra-Cellular Therapies' stock surged after an announcement of an acquisition by Johnson & Johnson for $132 per share.
Contributing reporting by Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Sarah Min, Jesse Pound, and Pia Singh.
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