Check out the companies making headlines in midday trading: Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative call on Wall Street . New Street Research downgraded Nvidia to hold from buy, citing limited upside given the big run already this year. It is only the second downgrade of Nvidia this year. Macy’s — Shares of the retailer jumped more than 12% after The Wall Street Journal reported that the investor group of Arkhouse Management and Brigade Capital Management increased their buyout offer. The group is now offering about $24.80 per share for Macy’s, up from $24 previously, the report said. Crypto stocks — Stocks tied to the cryptocurrency plummeted after the trustee for the now defunct Mt. Gox exchange said the company has begun making payments in both bitcoin and bitcoin cash to creditors. Marathon Digital was down 6% following the news, while Microstrategy and Coinbase were each down more than 3%. Bitcoin miner Iris Energy tumbled 6%, while fellow miner CleanSpark fell 2.5%. Trading platforms Robinhood and Riot Platforms were both down more than 2% as well. SoftBank Group , Arm Holdings — U.S. shares of SoftBank rose 5.5% after Japanese shares hit their first record high in 24 years on Thursday. The Japanese giant’s founder, Masayoshi Son, recently came back into the spotlight to unveil the company’s plan with AI. SoftBank has a majority stake in British chip designer Arm, which has been aiding its success. U.S. shares of Arm also rose nearly 7%. Instructure — The education technology stock jumped 6.3% after Reuters reported interest in an acquisition from private equity firms Francisco Partners and KKR. The two are reportedly competing against each other and are expected to provide binding offers next week, sources told Reuters. Chinese EV stocks — Shares of Chinese electric vehicle makers fell after the European Union confirmed on Thursday that it was increasing tariffs on electric vehicles imported from the country, with the higher duties going into effect Friday. As a result of the decision, Nio said that while it is currently maintaining prices for its cars sold into Europe, it may have to adjust prices “at a later stage.” That stock fell more than 7% during Friday’s trading session. Other Chinese EV stocks also fell Friday. Shares of Xpeng plunged 9% and Zeekr was down 8.3%, while Geely and Li Auto dropped 5.6% and 2.8%, respectively. Novo Nordisk — The pharmaceutical giant’s stock inched 2% higher despite concerns that semaglutide, present in Novo Nordisk’s Ozempic and Wegovy, might be tied to an increased risk of a rare eye disease . However, Deutsche Bank analyst Emmanuel Papadakis said the results from the study by Harvard Medical School were “hardly a game-changer.” Teck Resources — The stock rose more than 2% after Bloomberg reported Thursday that Canada had approved Glencore’s $6.9 billion acquisition of Teck’s metallurgical coal business. Teck announced that it expects the proceeds from the sale to buy back $2 billion in shares and pledged to invest in “near-term copper growth projects.” — CNBC’s Alex Harring and Jesse Pound contributed reporting.
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Check out the companies making headlines in midday trading:
Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative call on Wall Street. New Street Research downgraded Nvidia to hold from buy, citing limited upside given the big run already this year. It is only the second downgrade of Nvidia this year.
Macy’s — Shares of the retailer jumped more than 12% after The Wall Street Journal reported that the investor group of Arkhouse Management and Brigade Capital Management increased their buyout offer. The group is now offering about $24.80 per share for Macy’s, up from $24 previously, the report said.
Crypto stocks — Stocks tied to the cryptocurrency plummeted after the trustee for the now defunct Mt. Gox exchange said the company has begun making payments in both bitcoin and bitcoin cash to creditors. Marathon Digital was down 6% following the news, while Microstrategy and Coinbase were each down more than 3%. Bitcoin miner Iris Energy tumbled 6%, while fellow miner CleanSpark fell 2.5%. Trading platforms Robinhood and Riot Platforms were both down more than 2% as well.
SoftBank Group, Arm Holdings — U.S. shares of SoftBank rose 5.5% after Japanese shares hit their first record high in 24 years on Thursday. The Japanese giant’s founder, Masayoshi Son, recently came back into the spotlight to unveil the company’s plan with AI. SoftBank has a majority stake in British chip designer Arm, which has been aiding its success. U.S. shares of Arm also rose nearly 7%.
Instructure — The education technology stock jumped 6.3% after Reuters reported interest in an acquisition from private equity firms Francisco Partners and KKR. The two are reportedly competing against each other and are expected to provide binding offers next week, sources told Reuters.
Chinese EV stocks — Shares of Chinese electric vehicle makers fell after the European Union confirmed on Thursday that it was increasing tariffs on electric vehicles imported from the country, with the higher duties going into effect Friday. As a result of the decision, Nio said that while it is currently maintaining prices for its cars sold into Europe, it may have to adjust prices “at a later stage.” That stock fell more than 7% during Friday’s trading session. Other Chinese EV stocks also fell Friday. Shares of Xpeng plunged 9% and Zeekr was down 8.3%, while Geely and Li Auto dropped 5.6% and 2.8%, respectively.
Novo Nordisk — The pharmaceutical giant’s stock inched 2% higher despite concerns that semaglutide, present in Novo Nordisk’s Ozempic and Wegovy, might be tied to an increased risk of a rare eye disease. However, Deutsche Bank analyst Emmanuel Papadakis said the results from the study by Harvard Medical School were “hardly a game-changer.”
Teck Resources — The stock rose more than 2% after Bloomberg reported Thursday that Canada had approved Glencore’s $6.9 billion acquisition of Teck’s metallurgical coal business. Teck announced that it expects the proceeds from the sale to buy back $2 billion in shares and pledged to invest in “near-term copper growth projects.”
— CNBC’s Alex Harring and Jesse Pound contributed reporting.
Check out the companies making headlines before the opening bell : Intel — The chip stock surged more than 7% in premarket trading after the company reported better-than-expected revenue as demand for its core x86 processors for PCs recovered. Ford Motor — The Detroit automaker moved 4.2% higher following its third-quarter earnings beat . Ford’s […]
Check out the companies making headlines in after-hours trading. Alphabet — Shares of search engine giant Alphabet ticked 1% higher after Anthropic and Google officially announced their cloud partnership Thursday. The deal, worth tens of billions of dollars, gives Anthropic access up to one million of Google’s custom-designed Tensor Processing Units, or TPUs. Ford Motor […]
Check out the companies making the biggest moves midday: Super Micro Computer — The computer server manufacturer slumped 7% after cutting its fiscal first-quarter revenue forecast to about $5 billion from a prior estimate of $6 billion to $7 billion. Quantum computing stocks — Quantum computing shares jumped on a Wall Street Journal report that […]
