Equinix, Epam Systems, Roblox, and More

U.S. equities were higher at midday as first-time unemployment claims rose to their highest level since August, lifting hopes that a slowdown in the labor force could push the Federal Reserve to cut interest rates. The Dow, S&P 500, and Nasdaq all gained.

Equinix (EQIX) was the best-performing stock in the S&P 500 after the data center real estate investment trust (REIT) reported strong first-quarter results as it benefited from soaring demand for artificial intelligence (AI) products.

Shares of Steris (STE) climbed as the Ireland-based healthcare and dental products firm announced a restructuring focusing on its surgical business in Europe.

Shares of Newmont Corporation (NEM) and other gold miners advanced along with the price of gold. 

Epam Systems (EPAM) shares cratered as the software engineering firm’s current-quarter and full-year guidance missed estimates as the company faced a challenging demand environment and unexpected market conditions.

Shares of Roblox (RBLX) plunged after the company issued first-quarter results and guidance that missed analyst estimates.

Airbnb (ABNB) shares slumped after the vacation rental site also posted a lower-than-expected outlook for the current quarter on the timing of Easter and other holidays.

Norfolk Southern (NSC) shares also fell after activist investor Ancora won three seats on the board but failed in its effort to oust CEO Alan Shaw.

Oil futures and the yield on the 10-year Treasury note were little changed. The U.S. dollar gained on the yen, but lost ground to the euro and pound. Prices for most major cryptocurrencies were higher.