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Carvana, AT&T, VMware stocks roar higher, Cinemark shares sag — and other stocks on the move

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Movers & Shakers: Carvana hits the gas, as AT&T looks past lead-liner hang-up

Shares of AT&T Inc. T, +7.84% and Verizon Communications Inc. VZ, +4.93% were each up in morning action, with AT&T ahead more than 6% and Verizon up more than 4%. AT&T said in a Tuesday court filing that it would hold off on prior plans to remove lead-sheathed cables running underneath California’s Lake Tahoe amid recent reporting on the legacy cables, and analysts were encouraged by the latest update.

Elevance Health Inc.’s stock ELV, +6.27% was advancing 7% after the health insurer delivered earnings that beat the consensus view. VMware Inc. shares VMW, +5.75% were moving 7% higher in premarket action after the U.K.’s Competition and Markets Authority provisionally cleared Broadcom Inc.‘s AVGO, -0.62% deal for the technology company.

Cinemark Holdings Inc.‘s stock CNK, -2.14% was down about 4% after JPMorgan ended its bullish stance on the cinema name, citing the potential for an “overhang” related to Hollywood strikes. Shares of United Community Banks Inc. UCBI, -2.12% fell nearly 4% after the regional bank reported second-quarter results that came up short of estimates, as competition to attract new customers drove up costs.

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