Midday stock movers: Boeing, Bank of America, Unity Software

The stock market is trading lower midday after a winning month. The S&P 500 stepped forward 2.Three% for August, marking its fourth consecutive month of gains.

The S&P 500 is down 1.5% midday, while the tech-heavy Nasdaq Composite has dropped 2.four%. The Dow Jones Industrial Average fell 1.1%, and the Russell 2000 Index decreased by 2.four%.

Trending stocks:

The semiconductor sector is down midday. Nvidia continued lower after its earnings report, down eight%. Taiwan Semiconductor, Broadcom, ASML and AMD also saw declines, ranging from about 5% to six%.

All Magnificent 7 stocks are lower midday, in place of Tesla, which added zero.6%.

Analysts have upgraded their ratings on Boeing and Solidarity Software, leading to changes in their stock prices.

S&P 500 big stock movers today

Five S&P 500 stocks making big midday moves are:

• Molson Coors Beverage (TAP.A) +6.2%
• Dexcom (DXCM) +four.7%
• Ulta Beauty (ULTA) +Three.5%
• Constellation Brands (STZ) +Three.four%
• Campbell Soup (CPB) +Three.2%

The worst-performing five S&P 500 stocks with the largest midday drop are:

• Vistra (VST) -10.2%
• Constellation Energy (CEG) -eight%
• KLA Corp (KLAC) -7.eight%
• Nvidia (NVDA) -7.eight%
• Boeing (BA) -7.7%

Stocks also worth noting with significant moves include:

• Solidarity Software (U) +four.5%
• Alphabet (GOOGL) -2.eight%
• Apple (AAPL) -2.2%
• Amazon (AMZN) -1.four%
• Microsoft (MSFT) -1.Three%

Boeing declines after analyst downgrade

Boeing stock lost eight% after Wells Fargo analyst Matthew Akers downgraded the stock to underweight from equal weight and cut his price target to $119 from $185.

“Boeing had a generational free cash go with the flow opportunity this decade, driven by ramping production on mature aircraft and low investment need,” Akers said in a Sept. Three report. “But after extensive delays and added cost, we now see growing production cash go with the flow running into a new aircraft investment cycle, capping FCF some years out.”

"Alternatively, after extensive delays and added cost, we now see growing production cash go with the flow running into a new aircraft investment cycle, capping free cash go with the flow some years out," Akers said.

"We see the corporate's free cash go with the flow peaking by 2027 as aircraft development costs offset to boot production growth, and have faith an equity raise is prone to to boot dilute the shares," Akers argued. He sees Boeing doing a $30 billion equity raise by 2026.

Related: Analyst overhauls Boeing stock price target as cash issues persist

Boeing's balance sheet contains $45 billion in net debt, and paying this down would consume all its cash through 2030, based on Wells Fargo.

Bank of The USA shares waver after Warren Buffett's sale

Bank of The USA shares wavered after Warren Buffett’s Berkshire Hathaway disclosed on Friday it sold more shares last week.

A Friday filing revealed Berkshire sold 21.1 million shares on Wednesday, Thursday, and Friday for $848.2 million at a median $Forty.24 every.

Related: Warren Buffett's Berkshire Hathaway just joined exclusive club

Berkshire is Bank of The USA’s largest shareholder but has been cutting back its stake. For the reason that sales began on July 17, Berkshire has sold shares in 21 of the past 33 sessions. It reduced its stake by 14.5% with the sale of 150.1 million shares for $6.2 billion, a median price of $Forty one.33 every, CNBC reported.

As of Aug. 30, Bank of The USA is Berkshire’s 1/3-largest equity holding, representing around 11.four% of its portfolio, based on data pulled by CNBC.

Solidarity Software surges following analyst upgrade

Solidarity Software surged 10% in morning trading and sooner or later check changed into up Three.four%. The market move followed Morgan Stanley's upgrade of the stock to overweight from equal weight with an unchanged price target of $22.

“We now see clear potential for upward revisions in Create and greater stability in Grow,” said analysts at Morgan Stanley.

The videogame-software-development company is best known for its gaming engines, which are used in games including "Pokémon Go," "Monument Valley" and "Call of Duty: Mobile," based on the Financial Times.

More Wall Side road Analysts:

• Analysts reboot Grand Theft Auto maker's stock price target
• American Express stock analyst flags referring to shift in consumer behavior
• Analyst resets Nvidia stock price target earlier than earnings

Over the past twelve months, the corporate has underperformed the S&P 500 Index by 80%, but Morgan Stanley analysts now view forward estimates for Solidarity as "derisked."

Morgan Stanley says the corporate's game engine has maintained a 70% market share in mobile and "proven how deep its moats really are," as competitors have been unable to realize share at Solidarity's expense.

Related: Veteran fund manager sees world of pain coming for stocks