Check out the companies making headlines in midday trading: JPMorgan, Bank of America, and Wells Fargo — all three U.S. banks that dominate transactions on the Zelle payments network rose about 2% despite a lawsuit filed Friday by the FBI. Consumer Finance regarding Zelle payment fraud. . Cryptocurrency-related stocks – MicroStrategy, Coinbase, and Robinhood rose respectively by 12%, 2%, and 4%. Stocks fell in early trading on Friday along with Bitcoin prices falling from their highs. Novo Nordisk – The stock fell 18% in the wake of the Danish drug giant's experimental weight-loss drug CagriSema, which reported weaker-than-expected late-stage trial results. Shares of rival obesity drug maker Eli Lilly jumped 1% after the disappointing results, while Descom, a maker of diabetes management devices, added nearly 6%. Mission Production – The avocado producer rose 17% after fiscal fourth-quarter results beat Wall Street estimates. US Steel – The steel producer lost 5% after releasing fourth-quarter guidance that was weaker than expected. US Steel expects a loss of between 25 cents and 29 cents per share during the current quarter, while analysts estimated a per-share profit of 22 cents, according to FactSet. Occidental Petroleum, SiriusXM – Shares of the Houston-based energy producer jumped nearly 4%, while shares of radio station operator SiriusXM rose 12%. Warren Buffett's Berkshire Hathaway added to its stakes in these companies after purchases over the past three sessions, a regulatory filing showed. Berkshire also upped its bet on internet stock Verisign, prompting the technology name to jump 3%. Trump Media & Technology Group – Stock fell 2% after President-elect Donald Trump transferred his entire stake of stock into a revocable trust this week, regulatory filings show. The stock was also affected by the failure Thursday night of a House Republican spending deal passed by Trump to avert a government shutdown. FedEx – Shares fell slightly after the shipping company said it would spin off its shipping business. Separately, fiscal second-quarter adjusted earnings of $4.05 per share beat the LSEG consensus estimate of $3.90 per share. However, revenues fell short of expectations. Carnival – The cruise line operator jumped more than 6%. Carnival says it expects strong demand in 2025 and 2026. Fiscal fourth-quarter results also beat Street estimates, with Carnival reporting adjusted earnings of 14 cents per share on $5.94 billion in revenue, while analysts surveyed by LSEG sought 8 cents per share in earnings. And revenues of $5.93 billion. — CNBC's Sean Conlon, Michelle Fox, Alex Haring and Yun Lee contributed reporting.
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