Lamb Weston Stocks Move Now: Amedisys Supermicro and More

What you need to know

• At midday on Friday, major U.S. stock indexes were down as tech stocks fell. 
• Shares of Super Micro Computer and Tesla led losses in the S&P 500.
• Lamb Weston’s shares rose after news that activist investor Jana Partners has taken another step towards forcing changes in the frozen potato supplier.

The major U.S. indices fell at noon on Friday, as technology stocks lost their ground. The Dow dropped about 1%, while the S&P 500 and Nasdaq fell more than 1%. 

Super Micro Computer (SMCI) was the worst-performing stock in the S&P 500 amid ongoing concerns about the server maker’s delayed filings and allegations of accounting manipulation.

Tesla’s (TSLA), shares also fell ahead of its latest delivery report due next week. There were concerns that the company could not meet lofty expectations.

Netflix shares (NFLX), which are owned by the streaming company, fell despite the fact that it reported record audiences for their Christmas Day National Football League games (NFL). Analysts suggest that gains are already factored into the stock prices, as the latter reached a record high in early December.

Shares of Lamb Weston rose after reports that Jana Partners had aligned itself with another former executive at the frozen potato manufacturer as a possible board candidate. The activist has worked to transform the firm.

Amedisys’ (AMED) share price surged following the announcement that the Department of Justice had blocked the merger of UnitedHealth Group with Amedisys. UnitedHealth shares were virtually unchanged and slightly lower.

Gold futures prices fell and crude oil price rose. The 10-year Treasury yield was higher. U.S. dollars lost value against the yen, euro and pound. All major cryptocurrencies were trading lower.

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