Instacart stock slips after IPO, Dollar General shares hit by downgrade and other stocks on the move

Shares of Steelcase Inc. SCS, +0.80% gained 3% after the office-furniture maker called for “significantly improved” profit as more companies order their employees back to the office.

Pinterest Inc.’s PINS, +3.19% stock rose 1% after company executives said they expect revenue growth to pick up in 2024 after a slowdown in 2023 and 2022. The company also added former eBay Inc. EBAY, -0.66% executive Scott Schenkel to its board and announced a slew of new ad tech tools at its investor day.Shares of Instacart CART, +12.33% were down 4% after hours, following a debut in which they finished up 12%.

Dollar General stock DG, +1.27% fell 2%. JPMorgan slashed its rating on the retailer to underweight from neutral, and cut its price target to $116 from $132, following comments made by CFO Kelly Dilts at a conference the investment bank held in London. JPMorgan is now forecasting flat comparable store sales growth, as Dollar General’s core low income customer is “acting recessionary today.”

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Instacart sets IPO price at $30 a share, valuing the company at about $10 billionInstacart has priced its initial public offering of stock at $30 a share, raising $660 million for the grocery delivery company
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