Check out the companies making headlines in midday trading: Rivian Automotive – Shares rose 24.5% after the electric automaker's 2024 vehicle production and deliveries met the company's previously announced guidance. This comes after the company lowered its full-year production target in October. US Steel – Shares fell 6.5% following President Joe Biden's decision to block Japan's Nippon Steel from acquiring US Steel. Biden said the proposed $14.9 billion acquisition would pose a risk to the country's supply chains. Nugget – The fintech stock added 6.2% after an upgrade to outperform the market at Raymond James. Analyst John Davis believes the stock's valuation still looks attractive despite the recent rally, and he renewed conviction in Block's acceleration story for 2025. Chewy – Shares rose 6.2% after Wolfe Research upgraded the pet retailer to outperform His peers called it the best idea for internet stocks. Wolf listed expectations of higher earnings, improving macro backdrop and product-related catalysts as reasons for optimism. Alcohol Stocks – Shares of alcoholic beverage companies fell after U.S. Surgeon General Dr. Vivek Murthy issued a new advisory warning about the link between alcohol consumption and at least seven types of cancer. Diageo shares fell nearly 4%, while Anheuser-Busch InBev and Molson Coors fell 2.2% and 3.4%, respectively. Meanwhile, Constellation Brands shares fell 0.3%. Constellation Energy – Shares jumped 4%, extending gains since Thursday when the company announced it had received more than $1 billion worth of contracts to supply nuclear power to the U.S. government over the next decade. Carvana – Shares fell 11.2% after short-seller Hindenburg Research claimed Carvana's recent turnaround is a “mirage” based on bad loans and accounting manipulation. Online used car sellers' inventory is up 284% in 2024. It's down more than 5% so far this year. Ford and General Motors – Shares of Ford and General Motors rose after the two automakers recorded their best annual sales in the United States since 2019. Ford shares gained 2.4%, while General Motors shares rose about 1%. Vistra – The stock jumped 8.5%, extending the gains seen in the previous session. On Thursday, the stock rose more than 8%, making it the top performer on the S&P 500 on the first trading day of the new year. The gains come after a massive year for the stock, as it rose about 258% in 2024. That made it the second-biggest gainer in the broad market index last year. JetBlue Airways – Shares reversed losses from earlier in the session to rise 0.4% after the Department of Transportation fined the airline $2 million for “chronically delayed flights.” The Department of Transportation said JetBlue operated four routes that were delayed at least 145 times between June 2022 and November 2023. — CNBC's Alex Haring, Sarah Min, Lisa Kailay Han, Piya Singh and Michelle Fox contributed reporting.
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