US Stocks Rebound with S&P 500 Rising 1%; Micron Technology Leads with 8.6% Gain

CarMax and Carnival Corporation Shares Rise on Better-than-Expected Results; Paychex Shares Fall Due to Revenue Shortfall

• US stocks rebounded on Thursday, December 21, 2023, with the S&P 500 rising 1% after a significant drop the previous day.
• Micron Technology shares climbed 8.6% after reporting better-than-expected results and guidance, benefiting from higher prices and strong demand for its AI chips.
• CarMax shares were up 5.2% after beating earnings estimates due to increased vehicle sales in the wholesale market and the restart of its share repurchase program.
• Carnival Corporation shares increased 6.2% as the cruise line's loss was less than expected and its revenue exceeded estimates due to steady cruise demand.
• Paychex shares fell 7% as the payroll services provider's revenue fell short of estimates due to increased costs and a tight labor market affecting small and mid-sized businesses.

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