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Fed hikes by 0.25% in further downshift on tightening, but sees more hikes ahead

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Fed decision, Snap's falling sales, Meta earnings - what's moving markets

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🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Midday movers: Ciena, GameStop, vaccine stocks and more

Stock Markets Dec 09, 2022 01:56

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Midday movers: Ciena, GameStop, vaccine stocks and more

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By Liz Moyer

Investing.com -- Stocks were rising on Thursday as investors tried to break the S&P 500's five-day losing streak ahead of next week's Fed meeting. Here are the midday movers for Dec. 8.

Ciena (NYSE:CIEN) stock rose nearly 20% after the network equipment maker handily beat expectations for profit and revenue and said it sees the opportunity for "outsize" revenue gains in 2023.
GameStop (NYSE:GME) stock rose 9% even after the video game retailer said net sales dropped in the recent quarter as it continues to work on a turnaround effort.
Vaccine makers' stocks were rising after the Food and Drug Administration approved the Covid-19 booster shot designed to combat the Omicron variant for children as young as six years old. Pfizer (NYSE:PFE) rose 1.9%, BioNTech SE (NASDAQ:BNTX) rose 3.6%, and Moderna (NASDAQ:MRNA) rose 1.5%.
Exxon Mobil (NYSE:XOM) shares rose 1.1% after the oil major said it would buy back up to $50 billion of stock through 2024 after reporting its highest profit in history. The announcement expands a plan to buy back $30B of stock through next year. Chevron (NYSE:CVX) shares rose 0.6% after it said it would raise its capital spending by 25% next year.
Rackspace Technology Inc (NASDAQ:RXT) stock fell 13% days after saying a ransomware attack was blocking some customers from their email inboxes for days.

Midday movers: Ciena, GameStop, vaccine stocks and more

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