Midday movers: Tesla, Nvidia fall premarket; Robinhood, Dollar General rise

Investing.com -- Main U.S. indexes declined Thursday after data showed hotter-than-expected producer prices in February, sowing doubt about the timing of potential rate cuts from the Fed.

Here are some of the biggest U.S. stock movers today:​

Tesla (NASDAQ: TSLA) stock fell 2.6% after UBS cut its target price on the EV manufacturer, citing downside risks to delivery forecasts.

Nvidia (NASDAQ: NVDA) stock fell 2.7%, continuing the recent selloff of the dominant supplier of artificial-intelligence chips from an elevated level. The company's annual developer conference is set to take place on Monday.

Robinhood (NASDAQ: HOOD) stock soared 7% after the brokerage reported strong growth in assets under custody for the month of February.

SentinelOne (NYSE: S) stock fell 13.5% after the cybersecurity firm delivered underwhelming full-year guidance that overshadowed strong fourth-quarter results, causing the stock to suffer from comparison with rival CrowdStrike’s stellar results.

Under Armour (NYSE: UA) stock fell 11% after the sports apparel maker said that founder Kevin Plank will return to the company as CEO, as the company struggles to compete in a difficult macro environment.

Fisker (NYSE: FSR) stock slumped 40% after the WSJ reported that the electric vehicle startup has hired restructuring advisers to assist with a possible bankruptcy filing.

Dollar General (NYSE: DG) stock rose 5% after the discount retailer forecast upbeat 2024 sales, expecting steady demand from price-conscious shoppers.

Restaurant Brands (NYSE: QSR) stock rose 2.3% after the Burger King parent named Sami Siddiqui as its chief financial officer and made a slew of other leadership changes, as the company tries to navigate weakness in some international markets.

Dick’s Sporting Goods (NYSE: DKS) stock rose 13% after the retailer posted an upbeat fourth quarter earnings report, saying the holiday period was the strongest sales period in the company’s history.

Citigroup (NYSE: C) stock fell 1% despite news that Goldman Sachs upgraded its investment stance on the U.S. lender to ‘buy’ from ‘neutral’, citing its growth potential.

Lennar Corp. (NYSE: LEN) declined 4.6% after it published mixed quarterly results and issuing a forecast that disappointed investors.

Additional reporting by Louis Juricic

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