Midday Movers: Nvidia, Okta, Signet Jewelers and More

2022.09.01 21:01

Investing.com — U.S. stocks were down for a fifth-straight day on Thursday as investors await Friday’s jobs report. Here are the midday movers for Sept. 1:

• NVIDIA Corporation (NASDAQ:NVDA) shares fell 11% after the U.S. restricted the sale of some of its chips to China. Other chip stocks also fell, including Advanced Micro Devices Inc (NASDAQ:AMD), down 6%.
• Okta Inc (NASDAQ:OKTA) shares dropped 36% after several analysts downgraded it. The company is having trouble integrating Auth0, a company it acquired last year.
• Signet Jewelers Ltd (NYSE:SIG) stock fell 12%. The jewelry retailer had better than expected results and confirmed guidance but said it was seeing weakness on the top line as inflation weighed on consumer pocketbooks.
• MongoDB (NASDAQ:MDB) shares fell 25% after the database software maker said it would have a fiscal 2023 loss worse than expected.
• Hormel Foods Corporation (NYSE:HRL) shares fell 7% after it missed profit expectations and lowered its guidance for profit even as it raised its outlook on sales.

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