© Reuters
By Liz Moyer
Investing.com — Stocks were rising on Thursday as investors tried to break the ‘s five-day losing streak ahead of next week’s Fed meeting. Here are the midday movers for Dec. 8.
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Ciena (NYSE:) stock rose nearly 20% after the network equipment maker handily for profit and revenue and said it sees the opportunity for “outsize” revenue gains in 2023.
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GameStop (NYSE:) stock rose 9% even after the video game retailer said net sales dropped in the as it continues to work on a turnaround effort.
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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:) rose 1.9%, BioNTech SE (NASDAQ:) rose 3.6%, and Moderna (NASDAQ:) rose 1.5%.
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Exxon Mobil (NYSE:) 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:) shares rose 0.6% after it said it would raise its capital spending by 25% next year.
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Rackspace Technology Inc (NASDAQ:) stock fell 13% days after saying a ransomware attack was blocking some customers from their email inboxes for days.
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