Investing

Tuesday Morning's 10 Tech Stock Movers Include Amgen, Moderna and Nvidia

Paul Ausick

Published: February 8, 2022 10:40 am

Tech stocks got off to a mixed start again Tuesday morning. The Nasdaq and the S&P 500 traded slightly lower while the Dow Jones industrials traded slightly higher. The Nasdaq index closed down by about 0.58% on Monday on a strong showing from Amazon.

Financial stocks came out of the chute up about 0.7%, while communications stocks traded down by around 1.7%. Six of 11 market sectors traded lower in the first few minutes of trading Tuesday.

Here are the 10 Nasdaq 100 index stocks that made the biggest moves Tuesday morning.

Amgen Inc. (NASDAQ: AMGN) traded up by about 5.8% to $236.35, in a 52-week range of $198.64 to $261.00. After markets closed Monday, Amgen reported better than expected profits for the fourth quarter but missed revenue expectations. In an online business review session Tuesday morning, the company said it plans to repurchase $6 billion to $7 billion worth of shares this year, on top of a $6 billion buyback scheduled for the current quarter. Out through 2030, Amgen expects a compound annual growth rate (CAGR) in the mid-single digits, an adjusted operating margin of approximately 50% and growth of adjusted earnings per share in a high-single- to low-double-digit CAGR.

Micron Technology Inc. (NASDAQ: MU) traded up about 2.9% to $83.20, in a 52-week range of $65.67 to $98.45. The company had no specific news.

Datadog Inc. (NASDAQ: DDOG) traded up by about 6.5%, at $159.97 in a 52-week range of $69.73 to $199.68. The company had no specific news but could be riding Snowflake’s coattails. Datadog is scheduled to report earnings later this week.

Fiserv Inc. (NASDAQ: FISV) traded down about 6.3% in early action Tuesday, at $99.23 in a 52-week range of $92.04 to $127.34. The company reported financial results in the morning that beat estimates on both the top and bottom lines and issued upside guidance. Apparently, this did not add up to enough for investors.

Moderna Inc. (NASDAQ: MRNA) traded down about 5% to $152.34, in a 52-week range of $117.34 to $497.49. A new CDC study suggests that an Omicron-specific booster shot may be unnecessary for people under the age of 50.

Pinduoduo Inc. (NASDAQ: PDD) traded up about 6.7% to $56.91, in a 52-week range of $47.67 to $212.60. The China-based mobile e-commerce platform had no specific news.

NetEase Inc. (NASDAQ: NTES) traded up about 3.2%, at $102.27 in a 52-week range of $77.97 to $134.33. The China-based online game provider had no specific news.

Baidu Inc. (NASDAQ: BIDU) traded up about 1.6%, at $158.09 in a 52-week range of $132.14 to $354.82. The China-based internet search service had no specific news.

Nvidia Corp. (NASDAQ: NVDA) traded down 1.5%, at $243.57 in a 52-week range of $115.67 to $346.47. The company dumped its $40 billion offer to acquire chip designer Arm. Nvidia will pay Arm’s current owner, SoftBank, a $1.25 billion breakup fee and take a first-quarter charge of $1.36 billion related to the failed bid.

JD.com Inc. (NASDAQ: JD) traded up about 1.4%, at $74.20 in a 52-week range of $61.65 to $108.29. The China-based e-commerce giant had no specific news.