Here’s a look at the companies making headlines in midday trading: Hims & Hers Health — Shares jumped more than 30% after the telehealth company expanded its December launch of a weight-loss program and introduced access to compounded GLP-1 injections. Wix.com – The web development company surged more than 25% after posting better-than-expected first-quarter results. Raised full-year guidance for free cash flow. Norwegian Cruise Line – The cruise line operator rose more than 8% after Norwegian Cruise Line raised its full-year earnings guidance. The first quarter results were better than expected. Target — Retail shares fell 2.2% after Target said it was cutting prices on about 5,000 frequently purchased items to bring back consumers “stressed” by high prices. Li Auto — US-listed shares of the Chinese electric vehicle maker fell 13% after Li Auto posted weaker-than-expected first-quarter earnings and softer guidance for current-quarter earnings. Teratyne – Shares rose more than 5% after Goldman Sachs upgraded the semiconductor test equipment maker to buy. The bank said a cyclical recovery in its system-on-chip design test business should drive future stock performance. Gamestop – The video game retailer fell more than 11%, giving back some of its sharp gains from last week as the recent memorabilia stock craze faded. Micron Technology – Chip shares rose 3% following Morgan Stanley’s upgrade to underweight equivalent. The bank said last year’s losses weighed heavily on the stock’s valuation and underestimated the economic and narrative elements of artificial intelligence memory. Hasbro – Shares rose 3% after Morgan Stanley called Hasbro a top pick, saying its recent performance gives investors a strong entry point. Johnson Controls – Building Controls stock added 3% after Bloomberg News reported that Elliott Management had raised more than $1 billion in shares. Elliott is known for its track record as an activist hedge fund. Nvidia – Shares of Nvidia added 2% after several analysts raised their price targets on the chipmaker ahead of its quarterly results later in the week. Microsoft, Dell Technologies – Microsoft gained more than 1% ahead of its Build developer conference that starts on Tuesday. Dell Technologies shares fell slightly after holding its own developer event. NextDecade – Shares rose more than 13% after the United Arab Emirates’ state-owned oil company secured an 11.7% stake in NextDecade’s Rio Grande liquefied natural gas, or LNG, export project. NuScale Power – Nuclear shares rise 15%. Uranium stocks rallied recently after President Joe Biden signed a bill banning imports of Russian uranium for nuclear fuel. Year to date, NuScale is up more than 100%. — CNBC’s Michelle Fox, Lisa Kailai Hahn, Alex Haring and Samantha Subin contributed reporting.
Saturday, September 7, 2024
