Chipmakers, FedEx, Best Buy Fall
On this episode of Stock Movers:
- Micron (MU) and Sandisk (SNDK) shares sink amid weakness in the memory sector. A global selloff in the shares of chipmakers dragged US indexes sharply lower amid doubts about the sustainability of the AI-fueled tech rally.
- Fedex shares (FDX) fall ahead of earnings. Investors are waiting to hear management’s expectations for the company’s slimmed-down core parcel business following the spinoff of its freight unit earlier this month.
- Best Buy (BBY) shares slip after the company said Matt Bilunas will step down as CFO and depart the retailer at the end of July after 20 years, including seven years as CFO.
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