Check out the companies making headlines in midday trading: Nvidia — Shares of the artificial intelligence darling popped 1.8% following KeyBanc’s price target hike to $180, which implies about 40% upside from Monday’s close. The firm said demand for Nvidia’s H100 chip “remains robust” even with the imminent launch of Blackwell in the second half of the year. Helen of Troy — The housewares stock plummeted nearly 28%, hitting a new 52-week low during the session. The company posted an earnings miss for its first quarter of fiscal 2025 before the bell, earning 99 cents per share, excluding items. Analysts polled by FactSet were expecting earnings of $1.59 per share. The company also slashed its full-year guidance. UiPath — The software stock fell 7% after the company announced it is planning on reducing about 10% of its global workforce , with most of the reductions expected to occur by the end of the first quarter in fiscal 2026. The company said this is part of a restructuring plan to manage its operating expenses. Jumia Technologies — Shares of the company rose 30%, hitting a new 52-week high after Benchmark initiated coverage on the stock with a buy rating. Its $14 price target implies about 65.5% upside from Monday’s close. The firm thinks the e-commerce platform is at an inflection point, citing a demographic transformation in the region and its positioning as a pan-African leader with tailor-made services to capture demand as catalysts. Chemours — The chemical company’s stock gained 2% after receiving an upgrade to buy from neutral at UBS. The firm sees potential for outperformance, citing favorable demand and price drivers heading into 2025. BP — U.S.-listed shares of the oil and gas giant dropped 4.5% after the company warned it expects to post an impairment of up to $2 billion in the second quarter and anticipates weak refining margins, which the company said will weigh on its earnings results. Lucid — The electric vehicle company’s stock added nearly 1% after rallying about 8% in the previous session. Lucid jumped after the firm said it delivered 2,394 vehicles in the second quarter, marking a 70% year-over-year increase. Novo Nordisk — The health-care stock fell around 1.7%. On Monday, a study published in JAMA Internal Medicine found that the active ingredient in Eli Lilly’s Mounjaro and Zepbound — tirzepatide — is more effective at weight loss than semaglutide, which is the active ingredient in Novo Nordisk’s Ozempic and Wegovy. Shares of Eli Lilly were up about 1%. Sony — Shares popped close to 4% after Paramount Global’s parent company National Amusements and Skydance Media agreed on a merger . The transaction had attracted a bid from Sony and Apollo, CNBC reported. Tesla — Shares of the electric vehicle company popped more than 4%. Morgan Stanley stuck with its overweight rating on Tesla, noting that the company’s share of the global battery electric vehicle market in May was 15%. The stock is on track for a 10th straight positive day. Corning — The maker of specialty glass added nearly 4%. A day earlier, Corning hiked its expectations for second-quarter core sales to about $3.6 billion, compared to its earlier outlook of roughly $3.4 billion. The company also said that it expects core earnings per share to be at the high end or slightly above management’s guidance of 42 cents to 46 cents. — CNBC’s Yun Li, Pia Singh, Sarah Min and Darla Mercado contributed reporting.
Read the full article here
