© Reuters.
By Liz Moyer
Investing.com — Stocks were weighed down on Monday by fears of more Federal Reserve interest rate hikes after Friday’s relatively strong report on jobs. Here are the market movers for April 10.
- Micron Technology Inc (NASDAQ:) shares rose 8% after chip-making rival Samsung (KS:) said it was cutting production to optimize its manufacturing operations. The announcement also boosted shares of storage device maker Western Digital (NASDAQ:), up 7.6%.
- AMC Entertainment Holdings Inc (NYSE:) shares jumped 7% after a better-than-expected box office sales weekend for the Super Mario Brothers Movie, by Comcast’s (NASDAQ:) Universal and Nintendo. Ticket sales were $377 million worldwide for the long holiday weekend, a sign families are going back to theaters. Other movie theater operators also benefited, including Cinemark Holdings Inc (NYSE:), where shares rose 5.8%.
- Tupperware Brands Corporation (NYSE:) shares tumbled 45% after the maker of reusable storage containers issued a warning it was working with advisors to improve its capital position and near-term liquidity. The company said the moves were to “remediate its doubts regarding its ability to continue as a going concern.”
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Pioneer Natural Resources Co (NYSE:) shares jumped 5.9% after reports oil producer Exxon Mobil (NYSE:) was considering a potential acquisition bid for the shale oil producer.
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Apple Inc (NASDAQ:) shares fell 1.9% after market intelligence firm IDC issued a report that showed global shipments of traditional PCs fell 29% in the first quarter from a year earlier, with Apple’s shipments falling more than peers.
