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© Reuters.
Investing.com — Stocks were mixed as investors awaited this week’s report on inflation for April. Here are the market movers for May 8.
- PacWest Bancorp (NASDAQ:) shares were up 2.5% after coming under pressure in the recent banking sector turbulence. Other regional bank stocks are also rebounding, including Western Alliance Bancorporation (NYSE:), up 1.8%, and Zions Bancorporation (NASDAQ:) up 2.2%.
- Zscaler Inc (NASDAQ:) shares rose 21% after the cybersecurity company raised its full-year guidance and gave preliminary numbers for the recent quarter that are beating expectations.
- Tyson Foods Inc (NYSE:) shares fell 15% after the major meat processing company a surprise fiscal second-quarter loss and cut its guidance.
- American Airlines Group (NASDAQ:) shares rose 4.4% after the carrier was upgraded by JPMorgan to Overweight from Neutral. The Biden administration is announcing new guidelines for airlines, with policies for paying passengers who get caught up in delays that are in the airlines’ control.
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Occidental Petroleum Corporation (NYSE:) shares were down 1.5% after Warren Buffett said his conglomerate, Berkshire Hathaway (NYSE:), wasn’t going to take control of the oil major. Berkshire owns almost a quarter of Occidental’s shares.
