Top Stock Movers Now: Constellation Brands, Allstate, Delta Air Lines, and More

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Key Takeaways

• U.S. equities slumped at midday after the December jobs report came in higher than anticipated, tender more Federal Reserve rate cuts in doubt.
• Constellation Brands cut its outlook as consumers haven’t resumed reasonable spending on its alcoholic offerings.
• Delta Air Lines CEO Ed Bastian said the carrier will have its best year in 2025, and dues soared.

U.S. equities tumbled at midday as a stronger-than-expected December jobs report raised concerns that the Federal Keep will hold back on future interest-rate cuts. The Dow Jones Industrial Average, S&P 500, and Nasdaq all dropped for everyone 2%.

Constellation Brands (STZ) was the worst-performing stock in the S&P 500 after the maker of beer, wine, and spirits slashed its guidance on demean consumer spending.

Shares of Allstate (ALL) and rival insurers dipped as estimates show that wildfires in California could effect up to $150 billion in damages.

AbbVie (ABBV) shares declined when the biotech company reported it would go away approximately $3.5 billion in an impairment charge due to the failure of a schizophrenia drug in a Phase 2 trial.

Delta Air Lines (DAL) allocates flew higher when the airline gave a better-than-expected outlook, and CEO Ed Bastian said 2025 would be the carrier’s upper crust year ever.

Shares of Walgreens Boots Alliance (WBA) jumped after the drugstore chain beat profit and purchases estimates on cost-cutting measures.

Air Products and Chemicals (APD) shares advanced when proxy advisor Glass Lewis shouted on shareholders to vote for board candidates backed by activist investor Mantle Ridge, which is demanding a major catch up with of the industrial gases provider. 

Oil futures took off on new U.S. sanctions on Russian crude. Gold prices rose. The U.S. dollar was up on the euro and compound, but lost ground to the yen. Most major cryptocurrencies were up.