Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Micron Technology (MU) warned that it will need to spend heavily on production to meet burgeoning demand, overshadowing a generally upbeat forecast from the largest US maker of computer memory chips.
- Uber Technologies (UBER) plans to invest as much as $1.25 billion in carmaker Rivian Automotive (RIVN) to help launch a robotaxi fleet that will be available in the US, Canada and Europe over the next five years.
- FedEx (FDX) is expected to report profits that beat expectations as the company restructures its delivery network, cuts costs and pursues higher-value business. The optimistic outlook comes after the company hosted an Investor Day last month, where it said it expected third-quarter earnings would be above consensus.
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