Stocks turned positive on Thursday in a choppy session after Treasury Secretary Steven Mnuchin said he planned to resume fiscal stimulus talks with House Speaker Nancy Pelosi. In tech, investors digested a handful of earnings and analyst commentary. Here are some of the top tech movers for Sept. 24.
Shares of Nikola (NKLA) - Get Report fell 5% to $20.10 on Thursday, extending a downward slide since the sudden resignation of founder Trevor Milton. On Thursday, Wedbush downgraded the electric-vehicle producer's shares to underperform with a $15 price target, writing that there are "serious concerns” over the execution and timing of Nikola's “ambitious goals.”
Shares of Accenture (ACN) - Get Report, the professional and technology services firm, fell 6.4% to $215.89 after it missed revenue and earnings forecasts for its fiscal fourth quarter. Adjusted earnings per share fell 2% to $1.70, and revenue fell 2% to $10.84 billion, missing analysts' estimates on both counts. Management pinned the drop partly on lack of business travel expenses.
Shares of Twitter (TWTR) - Get Report fell 4.5% to $43.29 on Thursday, a pullback from a rally earlier this week. This morning, analysts at Mizuho Securities raised their price target for the microblogging site to $40 from $33, but affirmed a neutral rating on shares.
Shares of BlackBerry (BB) - Get Report rose 5.4% on Thursday to $5.06 after the tech firm posted a surprise 6% rise in revenue for the most recent quarter. Total revenue for the second quarter was $259 million, above estimates of $237 million, and its adjusted earnings of 11 cents per share also topped estimates of 2 cents.
Shares of Square (SQ) - Get Report rose 3.3% to $154.60 after the stock was upgraded at Oppenheimer. Analyst Jed Kelly wrote that the payment-tech company is well-positioned for "elevated growth levels for multiple years.” He upgraded the shares to outperform from perform with a price target of $185.