See which companies made headlines in midday trading. Trump Media & Technology — The stock fell more than 13% after Tuesday’s debate between its largest shareholder, former President Donald Trump, and Democratic Vice President Kamala Harris. On Wednesday, Trump Media hit its lowest intraday level since going public on the Nasdaq in late March. Rentokil Initial — Shares fell more than 20% after the pest control company said it expects organic sales growth in the second half of North America to slow to about 1%. GameStop — The meme stock fell more than 15% after the video game retailer reported a sharp drop in second-quarter sales compared with the same period last year. GameStop also announced an “at-the-market” offering of up to 20 million shares. Novartis — Shares of the U.S.-listed Swiss drugmaker fell about 2% after Bank of America downgraded it to hold from buy. The bank said it saw few growth drivers on the horizon. – Viking Therapeutics — Shares rose more than 7% after JPMorgan initiated coverage of the biotech company with an overweight rating. The bank listed upcoming data readings in November as a positive catalyst for Viking Therapeutics, which competes in the GLP-1 space. – Cryptocurrency Stocks — Cryptocurrency stocks fell after bitcoin’s price fell slightly overnight as crypto traders looked ahead to the Bank of Japan’s policy. Coinbase and MicroStrategy fell 2% and 1%, respectively. Bitcoin miner Riot Platforms fell about 2%. – Morgan Stanley — The bank’s stock lost 1% after Goldman Sachs downgraded it to buy from neutral. Goldman cited Morgan Stanley’s expensive valuation versus peers as the reason for the downgrade. – Bank of America — The stock fell 2% after Warren Buffett’s Berkshire Hathaway disclosed in a filing Tuesday that it sold more of the bank’s shares, reducing its stake to 11%. The latest sales totaled 5.8 million shares and were made on Friday, Monday and Tuesday. That brings Berkshire’s total sales since mid-July to more than $7 billion. Solar Stocks — Solar stocks as a group surged after Vice President Kamala Harris’s performance in Tuesday’s debate boosted confidence in a Democratic victory in the U.S. presidential election. The Invesco Solar ETF (TAN) jumped 5%, while the iShares Global Clean Energy ETF (ICLN) rose 2.6%. First Solar shares rose more than 11%, while SolarEdge Technology shares rose more than 5%. Sunnova Energy shares jumped about 5%. Sunrun shares advanced 8%. — CNBC’s Sean Conlon, Michelle Fox, Alex Haring, Yun Li, Sarah Min and Samantha Sobin contributed to the report.
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