Midday Trading Highlights: Key Movers in the Market
As midday trading unfolds, several companies are capturing attention with significant fluctuations in share prices. Here’s a closer look at the stocks making headlines:
Broadcom
Shares of Broadcom climbed 7% after The Information reported that the semiconductor giant is collaborating with Apple to develop an artificial intelligence chip. In contrast, Apple’s stock experienced a modest increase of less than 1%.
C3.ai
The enterprise AI software provider, C3.ai, faced a 9% decline following a downgrade to underweight from neutral by JPMorgan. Analyst Pinjalim Bora pointed to a high valuation as the reason for this adjustment and indicated an expectation for underperformance in 2025.
Macy’s
Macy’s shares dipped slightly, losing less than 1%, after the department store lowered its fiscal-year outlook. The retailer is now anticipating adjusted earnings per share between $2.25 and $2.50, down from a prior estimate of $2.34 to $2.69.
GE Vernova
In a contrasting move, GE Vernova’s shares surged 5% after the company announced plans to initiate a dividend of 25 cents per share and a $6 billion share repurchase program. Additionally, GE Vernova revised its margins estimate for 2028 from 10% to 14%.
Dave & Buster’s Entertainment
Dave & Buster’s Entertainment experienced a sharp drop of 20% after announcing disappointing earnings and revenue results, along with the departure of CEO Chris Morris. The company reported a loss of 84 cents per share on revenue of $453 million for the third quarter, falling short of analyst expectations.
Duolingo
Duolingo’s stock fell by 5% following a downgrade by Bank of America from buy to neutral. The bank flagged that Duolingo appears to be at "peak valuation" and may struggle to exceed consensus estimates in its upcoming quarterly report.
GameStop
In a surprising twist, GameStop’s shares rose 8% after revealing an unexpected profit for the most recent quarter. The video game retailer reported net income of $17.4 million in its third quarter, compared to a net loss of $3.1 million during the same period last year.
Patterson
Patterson Companies soared 36% following news of its acquisition by Patient Square Capital, a healthcare investment firm, which will pay $31.35 per share. The deal is expected to close in the fourth quarter of Patterson’s 2025 fiscal year.
Stitch Fix
Stitch Fix shares jumped 44% after the online personal styling platform raised its revenue forecast for the fiscal second quarter. The company also increased its full-year revenue guidance, projecting figures between $1.14 billion and $1.18 billion, up from a prior range of $1.11 billion to $1.16 billion.
General Motors
General Motors’ stock slipped 1% as the company announced the discontinuation of its Cruise robotaxi service, which had seen more than $10 billion invested. Citing a competitive market and shifts in capital allocation priorities, GM stated it would cease further funding for the initiative.
Bausch + Lomb
Bausch + Lomb shares fell 12% after Citi downgraded the contact lens manufacturer from buy to neutral, highlighting increased competition as a concern for the company’s future performance.
Wolverine World Wide
Wolverine World Wide’s shares increased by 7% after Stifel upgraded the company, recognized for its Merrell and Saucony brands, from hold to buy. Stifel noted that the company’s earnings growth potential appears compelling, positioning next year as a pivotal one for the stock.
JetBlue
JetBlue’s shares climbed 11% after announcing plans to introduce domestic first-class seating on airplanes that currently lack the top-tier Mint class, beginning in 2026, as part of a strategy to enhance its appeal to premium customers.
Figs
Shares of Figs, a medical apparel company, surged 22% after news broke that it received a takeover bid from Story3 Capital Partners. The private equity firm is valuing Figs at over $1 billion and has offered $6 per share for common shares it does not already own.
Krispy Kreme
Krispy Kreme saw a slight decline of 1% after the doughnut chain reported a cybersecurity incident that disrupted its operations, including online ordering services within the U.S.
Pharmacy Benefit Managers
CVS Health, UnitedHealth, and Cigna experienced a decline of approximately 6% each after a Senate bill was introduced, which aims to prevent companies that own health insurers or pharmacy benefit managers from also owning pharmacy businesses. If passed, this measure would require divestment from pharmacy operations within three years.
This snapshot of midday trading reflects the dynamic and fluctuating nature of the stock market, influenced by company-specific developments and broader market trends. Stay informed and consider these movements as you navigate your investment choices.
