Check out the companies making headlines in midday trading: Tesla — Elon Musk’s electric vehicle company saw shares sliding another 5.2%, bringing month-to-date losses to around 23%. The sell-off came after Tesla’s China rival Zeekr said it is rolling out an advanced driver-assistance system for free . Meanwhile, RBC Capital Markets lowered its price target on Tesla amid lowered expectations around pricing for the company’s self-driving capabilities. Alphabet — Shares of the Google parent slid 2.7%. Google said on Tuesday that it signed a definitive agreement to acquire cloud security startup Wiz for $32 billion in an all-cash deal. This deal is slated to be Google’s largest-ever acquisition. Palantir — Shares slid 4%. Jefferies also reiterated the defense technology stock as underperform , saying valuation remains a concern. Nvidia — The chipmaker retreated 3.3% ahead of CEO Jensen Huang’s keynote speech at the company’s GTC AI Conference. Lucid — The EV stock climbed 8.8% following Morgan Stanley’s upgrade to equal weight from underweight. Morgan Stanley said Lucid has an emerging bull case tied to artificial intelligence. Sarepta Therapeutics — The biotechnology company plunged 27.4% after disclosing the death of a man who was treated with its Elevidys gene therapy. Sarepta said in a statement that acute liver injury is a known potential side effect. Eastman Kodak — Shares of the film and chemicals manufacturer fell 6.4% after the company reported mixed fourth-quarter results. Eastman Kodak posted consolidated revenue of $266 million, compared with $275 million for the fourth quarter of 2023, reflecting a 3% decrease. The company reported a jump in net income for the fourth quarter, however, generating $26 million in net income for the quarter. That is up from $5 million in the year-ago period. Peabody Energy — The coal mining company advanced 6.2% after President Donald Trump, writing on his social media platform Truth Social , said he is authorizing energy production using coal. Willis Towers Watson — The commercial insurance stock climbed 2% on the heels of UBS’ upgrade to buy from neutral. UBS said the company has seen faster improvement on operating and free cash flow margins than peers. Millrose Properties — The residential land developer popped more than 10% after the company declared a dividend and issued new guidance. Millrose will pay shareholders 38 cents per share. It added that it sees fiscal second-quarter earnings per share between 65 cents and 68 cents. Hims & Hers Health — The digital health stock tumbled 9.2% after the U.S. Food and Drug Administration shared concerns around unapproved GLP-1 drugs used for weight loss, including compounded versions. Hims & Hers began prescribing compounded semaglutide last year. — CNBC’s Brian Evans, Pia Singh, Yun Li and Fred Imbert contributed reporting.
Add A Comment