Midday movers: Mattel, AMC Entertainment, Spotify and more

Investing.com — U.S. stocks were rising on Monday as investors soaked in more corporate earnings ahead of this week’s Federal Reserve meeting.

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

• Mattel (NASDAQ:) stock rose 2% after the became the highest-grossing movie so far this year domestically, and this is expected to translate into higher sales of the toymaker’s iconic doll.

• AMC Entertainment (NYSE:) stock soared 37% after a judge blocked the theater chain’s stock conversion plan that risked diluting investors’ holdings. The theater operator is also getting a boost from the weekend’s strong box office sales for the movies “Barbie” and “Oppenheimer.”

• Apple (NASDAQ:) stock rose 0.5% after Bloomberg reported that the tech giant is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before.

• Tesla (NASDAQ:) stock rose 2.7%. UBS downgraded its stance on the EV manufacturer to ‘Neutral’ from ‘Buy’, saying the recent rally means the stock is now fairly valued.

• Spotify (NYSE:) stock fell 5% after the music streaming company said it was raising the prices for its premium plans by $1 each in the United States, in an attempt to boost profitability.

• Chevron (NYSE:) stock rose 2.6% after the oil major revealed over the weekend a $6 billion net profit in the quarter ended June 30, ahead of expectations.

• Johnson & Johnson (NYSE:) stock rose 1.1% after the drugmaker launched an exchange offer for its investors to exchange J&J’s shares with those of its consumer health unit Kenvue (NYSE:).

• Domino’s (NYSE:) stock rose 1.4% after the pizza chain missed expectations for second-quarter , as elevated delivery fees and higher prices to boost margins hurt demand.

• Public Storage (NYSE:) stock rose 0.9% after the self-storage properties operator agreed to buy Simply Self Storage from Blackstone Real Estate Income Trust for $2.2B.

–-Peter Nurse contributed reporting