Check out the companies making headlines in midday trading. eBay – Shares jumped nearly 10% and hit 52-week highs after announcing that Meta is testing the use of its listings on Facebook Marketplace. Buyers will be redirected from Facebook to eBay to complete transactions. The gains put the stock on track for its best day since late 2022. Edison International – The stock lost 10.2%, as thousands fled the Los Angeles area due to wildfires that destroyed homes and infrastructure in the area. The decline put the California-based company on track for its worst trading day since March 2020. Getty Images – Image Database shares fell 17.6%, reversing course after rising more than 24% in the previous session. On Tuesday, Getty announced a $3.7 billion merger with Shutterstock. Shutterstock shares fell 11.1% on Wednesday after rising 14.8% in the previous session. SolarEdge Technologies – Shares fell 14.8% after Citi downgraded it to Sell from Neutral. The bank said the company faces “very high” operating expenses despite restructuring efforts. The stock rose more than 6% and about 8% on Monday and Tuesday, respectively, after SolarEdge disclosed in a Securities and Exchange Commission filing that it would cut 400 jobs. Quantum Computing Stocks – Stocks related to quantum computing fell after Nvidia CEO Jensen Huang said the technology is likely decades away. Rigetti Computing and D-Wave Quantum shares fell more than 45% and 36%, respectively, while Quantum Computing shares fell more than 43%. IonQ stock fell 39%. Maplebear – The grocery delivery company, which operates under the name Instacart, jumped more than 4% ahead of its inclusion in the S&P MidCap 400 index, effective before the bell on January 14. Maplebear is set to replace Enovis in the index. AAR Corp – Shares of the aviation services provider rose more than 8% on the back of profits and revenue generated in the second fiscal quarter. During the period, AAR reported adjusted earnings of 90 cents per share on revenue of $686.1 million. Analysts polled by FactSet were expecting 85 cents per share and revenue of $654.2 million. Palantir Technologies – Shares fell 2.5%, building on their decline in early 2025. The stock started the week down about 5% after Morgan Stanley assumed coverage with an underweight rating, citing a risk-reward profile that is skewed toward the downside. Also earlier this week, Cathie Wood sold more than $15 million worth of software company stock across all of her Ark funds. From a week ago until now, the stock has fallen by about 15%. Arcadium Lithium – Shares jumped more than 8% after the company said it received approval from the Committee on Foreign Investment in the United States (CFIUS) for a proposed acquisition by Rio Tinto. Arcadium Lithium expects the deal to close before mid-2025. Boston Scientific – The stock rose 4.3% following its announcement that it had agreed to acquire Bolt Medical. Boston Scientific said it expects the deal to close in the first half of this year. Advanced Micro Devices – The stock lost 4.3% after receiving a rating downgrade from Buy at HSBC, which said the chipmaker's AI roadmap is less competitive than previously thought. Cal-Maine Foods – The egg producer rose 1% after its latest quarterly results. Cal-Maine Foods had earnings of $4.47 per share on revenue of $954.7 million, the latest figure representing an 82% increase from the same period last year. Shell – The energy giant's stock fell 1.8% after it cut its forecast for LNG production in the fourth quarter and said it expects oil and gas trading results to come in “significantly lower” than in the third quarter. Novo Nordisk – Shares rose nearly 3% after UBS upgraded the pharmaceutical giant to a buy rating from neutral. “Novo remains the most exciting growth story in the European pharmaceutical industry and is well positioned to continue to benefit from high demand for GLP-1 medicines in the near term,” the bank wrote. Novo Nordisk shares fell 40% over the past six months and ended 2024 down 17%. Accolade – The stock rose approximately 105% after announcing that Transcarent would acquire the company for $7.03 per share in cash, representing a total equity value of approximately $621 million. The transaction is expected to close during the second quarter of 2025. — CNBC's Fred Imbert and Alex Haring, Samantha Sobin and Lisa Kailay Hahn contributed reporting.
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