U.S. stocks on the move: ADT, Equinix, Cognizant
SPY•ADT rose 33.8% after Thrive agreed to acquire it for $7.6 billion, while Equinix climbed after raising its full-year revenue forecast and Cognizant fell after lowering its full-year revenue forecast. The Nasdaq was down 1.12% at 11:30 a.m. ET.
1. Stocks in focus
ADT shares rose 33.8% after Thrive agreed to acquire the company for $7.6 billion. Equinix climbed after raising its full-year revenue forecast, while Cognizant dropped after lowering its full-year revenue forecast.
2. Major indexes lower
At 11:30 a.m. ET, the Dow was down 0.17%, the S&P 500 was down 0.20% and the Nasdaq Composite was down 1.12%. The Nasdaq fell more than 1% as Alphabet's results rekindled concerns about AI costs and investors assessed inflation data after the Federal Reserve held interest rates unchanged.
