Check out the companies making headlines in midday trading. EVgo – Shares rose nearly 61% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. JPMorgan also upgraded EVgo to overweight. Analyst Bill Peterson pointed to EVgo's adoption rate compared to its peers as well as its owner-operator model. Hims & Hers Health – The health and wellness platform saw shares fall 9.6% after the U.S. Food and Drug Administration said shortages in Eli Lilly's popular weight loss drugs Zepbound and Mounjaro had been resolved. Hims & Her Health had previously developed compounded versions of the drugs to take advantage of the shortage. Joby Aviation – Shares fell more than 8%, paring gains from the previous session. On Wednesday, Joby stock rose nearly 28% after Toyota announced it was investing $500 million in the company to support the adoption and production of electric flying taxis. Levi Strauss – Stock fell more than 7% after the denim maker cut its full-year revenue forecast and posted weaker-than-expected third-quarter revenue. Levi is also considering selling its Dockers business, which the company said has underperformed. Wolfspeed – Shares fell 5.9% after Mizuho downgraded the semiconductor manufacturer to an underperform rating from neutral. The company expects global electric vehicle sales to slow in the next two years, and has pointed to growing Chinese competition as another headwind. Nvidia – The chipmaker advanced more than 3% after CEO Jensen Huang told CNBC's “Closing Bell: Overtime” on Wednesday that the company is seeing “insane” demand for Blackwell's new AI chips. The CEO also said Blackwell is in “full production” and on schedule to ship in the fourth quarter. Stellantis – Shares fell about 4%, hitting a new 52-week low during the session, after a downgrade to equal weight from overweight at Barclays. Analyst Henning Kossmann said the company was “wrong” about the stock, because it was “too slow to acknowledge the problem of its stock in the US and the erosion of its market shares between the EU and the US”. Palantir Technologies – The software stock rose more than 4%, adding to the gains seen in the previous session. Palantir recently announced its partnership with Edgescale AI to deliver Live Edge, a platform that will use AI in manufacturing, utilities and other fields. UTILITY STOCKS – Shares of power companies Vistra and Constellation Energy jumped more than 5% and 4%, respectively, after Google CEO Sundar Pichai said in an interview with Nikkei that the tech giant is considering using electricity from nuclear power plants for its data centers. Investors see both Vistra and Constellation as major supporters of data center growth to develop AI technologies for technology companies. — CNBC's Yun Lee, Lisa Kailai Han and Hakyung Kim contributed reporting.
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Hims, Gobi, Levi's and more
