Midday movers: Apple slips; Palantir and Micron gain By Investing.com

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(Updated - May 6, 2024 11:21 AM EDT)

Investing.com -- Main U.S. indexes rose Monday, adding to recent gains amid hopes the Fed will begin cutting interest rates later this year following soft jobs data last week.

Here are some of the biggest U.S. stock movers today:

Apple (NASDAQ:) shares declined 0.7%, retreating from gains in the prior two sessions, after Warren Buffett's Berkshire Hathaway (NYSE:) slashed its stake in the iPhone maker.

Paramount Global's non-voting Class B (PARA) shares rose 3% as the entertainment group weighed a takeover deal from Apollo Global Management (NYSE:) and Sony (NYSE:).

Shares in Luminar Technologies (LAZR) slumped 5% after the firm said it would reduce headcount by about 20%.

Perficient (NASDAQ:) (PRFT) shares surged 53% after Swedish private equity group EQT (ST:) agreed to acquire the digital consultancy in an all-cash deal valued at about $3 billion.

Shares in Spirit Airlines (NYSE:) (SAVE) fell 9% after the budget carrier posted an adjusted quarterly net loss that was wider than analyst estimates and three-month revenues in line with expectations.

Cryptocurrency miners Riot Platforms (NASDAQ:) and Marathon Digital (NASDAQ:) jumped as edged closer to the $65,000 mark.

Energy company Vistra (VST), which is due to replace Pioneer Natural Resources (NYSE:) on the on May 8, saw its shares climb 1.2%. Pioneer was acquired by oil and gas giant Exxon Mobil (NYSE:) (XOM) in a $60 billion deal that closed last Friday.

Micron Technology (NASDAQ:) rose 4.5% after being upgraded to 'outperform' at Baird. Analysts said they see meaningful upside for the stock.

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