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Find out which companies made headlines in midday trading:
Nvidia — Shares of the beloved artificial intelligence company fell about 2% after a rare negative call on Wall Street. New Street Research downgraded Nvidia from buy to hold, citing limited upside given its already strong performance this year. It’s Nvidia’s second downgrade this year.
Maisie — Shares of the retailer jumped 9.5% after the Wall Street Journal reported that an investor group from Archhouse Management and Brigade Capital Management had increased its offer to buy the company. The report said the group is now offering about $24.80 per share for Macy’s, up from $24 previously.
Cryptocurrency-related stocks fell after the trustee of the now-defunct Mt. Gox exchange said the company had begun making payments in bitcoin and bitcoin cash to creditors. Digital Marathon It fell about 4% after the news, while Small strategy And Coinbase Bitcoin prices fell by about 1.6% and 0.6%, respectively. Iris Energy Shares of the mining company rose 4.7%, reversing losses from earlier in the session, while shares of the mining company Clean Spark Down 0.6%. Trading Platform Robin Hood It decreased by 1%, while Riot platforms It also reversed its losses to close up about 1%.
SoftBank Group, Arm Holding — SoftBank shares in the U.S. rose 6.4% after Japanese stocks hit their first record high in 24 years on Thursday. The Japanese conglomerate’s founder, Masayoshi Son, recently returned to the spotlight to unveil the company’s plan for artificial intelligence. SoftBank owns a majority stake in British chip designer Arm, which it helped drive. Arm’s U.S. shares also rose 7.7%.
Infrastructure — Education technology stocks jumped 5.3% after Reuters reported interest from private equity firms Francisco Partners and KKR. The two companies are competing with each other and are expected to make binding offers next week, sources told Reuters.
Chinese electric vehicle stocks — Shares of Chinese electric vehicle makers fell after the European Union confirmed on Thursday that it would raise tariffs on electric vehicles imported from the country, with the higher tariffs taking effect on Friday. As a result of the decision, New Mitsubishi Motors said that while it is currently maintaining prices for its vehicles sold in Europe, it may have to adjust prices “at a later stage.” The stock fell more than 5% during trading on Friday. Shares of other Chinese electric vehicle companies also fell on Friday. x ping Down 4.8% Zicker Geely shares fell and Lee Auto Oil prices fell by about 4.4% and 1.3%, respectively.
Novo Nordisk — Shares of the pharmaceutical giant rose 2.5% despite concerns that semaglutide, found in Novo Nordisk’s Ozempic and Wegovy, may be linked to an increased risk of a rare eye disease. However, Deutsche Bank analyst Emmanuel Papadakis said the Harvard Medical School study results were “not game-changing.”
Tech Resources — The stock rose about 1% after Bloomberg reported Thursday that Canada has approved Glencore’s $6.9 billion acquisition of Teck’s metallurgical coal business. Teck said it expects to use the proceeds from the sale to buy back $2 billion in shares and pledged to invest in “near-term copper growth projects.”
— CNBC's Alex Haring and Jesse Pound contributed to this report.
