Intel, Qorvo Rivian and More: Top Movers in Stocks Now

What you need to know

• U.S. stocks were up at noon on Friday, as investors grew more optimistic about the Federal Reserve’s rate-cutting plans after positive inflation reports.
• Intel’s shares rose after reports that it is a target for acquisition.
• J.B. Hunt Transport Services reported worse than expected results due to a decline in freight volume.

U.S. equity prices rose in the midday hours of Friday, before Martin Luther King Day. This was due to renewed optimism about lower inflation leading to additional Federal Reserve interest rate reductions. The Dow Jones Industrial Average, S&P 500, and Nasdaq all gained at least 1%.

Intel shares (INTC) jumped after a report suggesting that a major U.S. semiconductor manufacturer could be targeted for a merger.

The shares of Qorvo, a semiconductor company (QRVO), surged after it was announced that Starboard Value bought a 7.7% stake.

Rivian Automotive’s (RIVN), shares rose after it finalized a federal loan of up to $6,6 billion to construct a factory.

Meanwhile, J.B. Hunt Transport Services (JBHT) was the worst-performing stock in the S&P 500 Friday after the shipping firm missed profit and sales estimates on lower volumes as the freight industry continued to struggle.

State Street’s (STT), shares fell due to concerns over the firm’s outlook for full year.

Vistra’s (VST), shares fell when the battery storage plant in Northern California caught fire. The company claimed that it was the largest facility of its kind.  

Oil futures declined. Gold prices are up. The yield of the 10-year Treasury bill was unchanged. The U.S. currency gained against the British pound, Euro, and Japanese yen. The majority of major crypto currencies traded higher.

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