Domino's and DraftKings' stocks surge, Cisco shares fall, and more stocks on the move

By MarketWatch

LivePerson's stock gets a big boost after announcement of CEO's exit

Here are some of the most notable stock movers in Wednesday's market action.

Stock gainers

Shares of Broadcom Inc.(AVGO) and VMware Inc.(VMW) were each up 1.4% in morning activity after the European Commission gave its blessing to the pending $61 billion deal between the two companies.

Nvidia Corp.'s (NVDA) stock was gaining more than 3% after Cowen & Co. cheered the potential for revenue upside even in the wake of the chip company's monster forecast issued alongside its last earnings report.

Shares of LivePerson Inc.(LPSN) were rocketing more than 30% after the company, which makes software involving generative artificial intelligence, among other products, announced that it won't be renewing its chief executive's contract when it expires at the end of the year.

Plug Power Inc.'s(PLUG) stock was advancing about 3% after the company announced that it's been tapped to supply two 5-megawatt proton exchange membrane (PEM) electrolyzers for a project in Australia.

DraftKings Inc.(DKNG) shares were zooming nearly 7% higher Wednesday after BofA Global Research turned bullish, citing margin opportunities and more.

Domino's Pizza Inc.(DPZ) shares were soaring roughly 10% after the company announced a deal with Uber Technologies Inc. (UBER) that will see Domino's menu options included on the ride-hailing and food-delivery company's Uber Eats and Postmates apps. Domino's stock was leading S&P 500 gainers on the day.

Shares of SunPower Corp.(SPWR) were gaining more than 8% after Raymond James moved to a strong buy rating, saying that the stock's recent underperformance creates an attractive buying opportunity.

General Motors Co.(GM) shares were up about 2% in morning activity after Citi Research cheered the company's setup heading into earnings.

Shares of GoodRx Holdings Inc.(GDRX) were powering 11% higher after the company disclosed a new program with CVS Health Corp. (CVS).

Cinemark Holdings Inc.'s(CNK) stock was up more than 3% after B. Riley Securities reversed course, upgrading the name back to buy following a downgrade only a few weeks earlier.

Carvana Co.(CVNA) shares were ahead nearly 10% after JMP Securities doubled its price target on the used-car name.

Shares of Terex Corp.(TEX) were rising almost 4% in Wednesday morning action. The maker of materials-processing machinery said Tuesday that its board approved a 13% increase to the company's quarterly dividend, which will bring it to 17 cents per share. This marks this second time this year Terex has raised its dividend.

Liminal BioSciences Inc.(LMNL) shares were gaining more than 40% in morning activity after the company announced a take-private deal.

Stock decliners

Shares of Lucid Group Inc.(LCID) were declining more than 9% in Wednesday morning action after the electric-vehicle company posted a delivery and production update, with production figures trailing the one estimate listed on FactSet.

Cisco Systems Inc.'s(CSCO) stock was falling about 1% Wednesday after BofA Global Research downgraded the name, warning that estimates could be too high.

Acadia Healthcare Co. Inc. (ACHC) shares were down about 5% Wednesday after the behavioral-health-services company said it would challenge a $485 million award in an abuse lawsuit against the company.

Silk Road Medical Inc.(SILK) shares were tumbling 24% after the Centers for Medicare & Medicaid Services made a decision pertaining to Medicare coverage of carotid-artery stenting that one analyst said "places a difficult overhang on the stock."

ShiftPixy Inc. (PIXY) shares were declining almost 14% in morning action after a public-equity offering that valued the workforce-management stock at a sharp discount

Shares of Redfin Corp.(RDFN) were dropping 3% after D.A. Davidson moved to an underperform stance on the real-estate name.

-MarketWatch

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07-12-23 1109ET

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