Weekly Roundup: JB Hunt Falls, Generac Surges, Strategy Gains
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers, we take a look at some of the week's biggest gainers and decliners:
- JB Hunt (JBH) led trucking stocks lower on Wednesday after the company warned that higher costs for fuel and recruiting will hurt its earnings. JB Hunt shares tumbled more than 13%, marking the stock’s worst daily performance in over six years. Knight-Swift Transportation Holdings Inc. dropped 4%, while Old Dominion Freight Line Inc. and Werner Enterprises Inc. also fell.
- Generac (GNRC) agreed to supply up to $8 billion worth of generators for Amazon.com Inc.’s data centers and issued a warrant for a stake in the company, according to a securities filing Wednesday. Shares of the US maker of backup power generators surged as much as 32% on Thursday, the biggest intraday increase in more than 14 years. It was the stock's best week since May.
- Cryptocurrencies rallies on Friday amid stronger appetite for risk assets, as investors looked past the failure of a landmark US crypto bill and the Fed's first interest-rate increase in more than three years. On Thursday, the Securities and Exchange Commission cleared a path for tokenized versions of US stocks to trade in the country. Bitcoin topped $81,000 and Strategy ended the week as the Nasdaq 100's biggest gainer.
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