Check out the companies making headlines in midday trading: Broadcom – Shares rose 7% after a report from The Information that the semiconductor manufacturer was helping Apple create an artificial intelligence chip. Apple shares traded up less than 1%. C3.ai – The enterprise AI software company fell 9% after it was downgraded to underweight from neutral at JPMorgan. Analyst Pingalim Bora pointed to the extended valuation as the catalyst behind the change, adding that he now expects the stock to underperform in 2025. Macy's shares fell less than 1% after the department store chain cut its forecast for the fiscal year. Macy's now expects adjusted earnings per share to be between $2.25 and $2.50, compared to its previous forecast of $2.34 to $2.69. GE Vernova – Shares of the energy equipment maker jumped 5% after announcing it would initiate a dividend of 25 cents per share and initially authorized a $6 billion stock buyback. GE Vernova also raised its 2028 profit margin estimate to 14% from 10%. Dave & Buster's Entertainment – The gaming and restaurant operator fell 20% after missing earnings and revenue forecasts and announcing the departure of CEO Chris Morris. Dave & Buster's reported a loss of 84 cents per share on revenue of $453 million for the third quarter. Analysts surveyed by LSEG expected a loss of 37 cents per share and revenue of $466 million. Duolingo – Shares fell 5% after Bank of America downgraded the language learning company to neutral from buy. The bank said Duolingo already appears to be trading at “peak valuation,” and said it may be difficult for the company to beat consensus estimates for its next quarterly report. GameStop – The meme stock rose 8% after the video game retailer turned an unexpected profit last quarter. GameStop reported net income of $17.4 million in the third quarter, compared to a net loss of $3.1 million during the same period last year. PATERSON – Shares of the dental and animal health company rose 36% on news that Patient Square Capital will acquire Paterson. The healthcare investment firm will pay $31.35 per share, and the deal is expected to close in the fourth quarter of Patterson's fiscal year 2025. Stitch Fix – Shares rose 44% after the online personal design company raised its financial forecast for the second quarter. The company also raised the high end of its full-year revenue guidance and expects between $1.14 billion and $1.18 billion, up from its previous estimate of between $1.11 billion and $1.16 billion. General Motors – The Detroit automaker fell 1% after exiting its Cruise robotaxi service, to which it had previously transferred more than $10 billion. GM said it would no longer finance the development, citing the increasingly competitive market and capital allocation priorities as reasons for the decision. Bausch + Lomb – Shares fell 12% after Citi downgraded the contact lens supplier to neutral from buy. The bank cited increased competition as a reason for the downgrade. Wolverine Global – Shares rose 7% after Stifel upgraded the company, which owns the Merrell and Saucony shoemaking brands, to buy from hold. The company said Wolverine World Wide's earnings growth potential appears compelling and that next year is an “inflection year” for the stock. JetBlue – The airline advanced 11% after unveiling plans to add domestic first-class seats to aircraft that do not have the current Mint first-class class, starting in 2026. This is the latest initiative to attract premium customers on JetBlue's long-haul return plan To profitability. Figs – The medical apparel maker's stock rose 22% after the Wall Street Journal reported that Figs received a takeover bid from Story3 Capital Partners. The private equity firm valued the company at more than $1 billion and offered $6 for every Figs common share it didn't already own, the newspaper reported. Krispy Kreme – Shares fell 1% after the donut chain disclosed in a regulatory filing that a cybersecurity breach disrupted its operations, including online ordering at U.S. Pharmacy Benefits Managers – Shares of CVS Health, UnitedHealth and Cigna fell about 6% after lawmakers filed A Senate bill would prohibit companies that own health insurance companies, or PBMs, from owning pharmacy companies. The bill would force those companies to divest from the pharmacy business within three years. — CNBC's Michelle Fox, Alex Haring, Ha Kyung Kim, Yun Lee, Sarah Min and Pia Singh contributed reporting.
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