🔥Rivian's New Cash Burn & Taylor Swift Saved AMC

stocks retreated this Thursday with investors reacting to less-than-expected rise in weekly jobless claims, casting eyes on Friday’s payroll data for any hint of a sluggish job market. Treasury yields dipped for the second consecutive session, while U.S. crude futures tumbled 7.3% over two days. Mortgage rates soared to 7.49%, with an 8% mark lurking by month-end. AMC Entertainment is reveling in booming ticket sales for the “Taylor Swift: The Eras Tour” concert film, having grossed over $100 million already. This sales surge nudged AMC shares up by 1.5% in after-hours trading to $8.42. Here are the Stock Movers of the day: A rough ride for Rivian Automotive as shares plummeted 19% post the EV maker’s announcement of a $1.5 billion convertible notes raise, despite Q3 revenue projections aligning with Wall Street forecasts. Exxon Mobil’s shares skid over 2.3% amid sinking oil prices driven by a murky demand outlook. A cyberattack dampened Clorox’s fiscal Q1 outlook, sending shares down by 7.7%, overshadowing pricing, cost reduction, and supply chain enhancements. UWM Holdings bounced back with a 5.7% rise following a BTIG upgrade, hinting at a favorable valuation amidst possible interest rate stabilization. Orchard Therapeutics soared as Kyowa Kirin, a Japanese pharma giant, disclosed a $478 million acquisition plan, nearly doubling Orchard’s shares. In the beverage realm, Constellation Brands saw a midday dip of over 3% due to a 14% YoY fall in wine and spirits sales, though it did surpass earnings expectations and upped its fiscal 2024 guidance. Lamb Weston shares sizzled with a 10% leap post a quarterly report beating analyst expectations, driven by strong demand and favorable pricing, leading to an upbeat fiscal-year guidance.