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Take a look at the companies making headlines in midday trading:
Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative rating on Wall Street. New Street Research downgraded Nvidia to hold from buy, citing limited upside considering the stock has already risen sharply this year. This is only Nvidia’s second downgrade this year.
macy’s department store — The retailer’s shares rose more than 12% “Wall Street Journal” reports Investor groups including Arkhouse Management and Brigade Capital Management increased their takeover bids. According to the report, the group’s current offer for Macy’s is approximately US$24.80 per share, higher than the previous price of US$24.
Crypto Stocks – Cryptocurrency-related stocks plunged after the trustee of the now-defunct Mt. Gox exchange said the company had begun paying creditors in Bitcoin and Bitcoin Cash. marathon numbers After the news broke, the stock price fell 6%, while micro strategy and Coin Library Both fell more than 3%. bitcoin miner iris energy plunged 6%, while other miners clean spark down 2.5%. trading platform Robin Hood and Anti-riot platform Both fell more than 2%.
SoftBank Group, Arm Holdings — SoftBank shares rose 5.5% in the U.S. after Japanese stocks hit their first all-time high in 24 years on Thursday. The Japanese giant’s founder Masayoshi Son recently returned to the spotlight, unveiling the company’s plans for artificial intelligence. SoftBank owns a majority stake in British chip designer Arm, which has been instrumental in its success. Arm U.S. shares also rose nearly 7%.
structure — Education technology stocks rose 6.3% Reuters reports Interested in acquiring private equity firms Francisco Partners and KKR. The two companies are reportedly competing against each other and are expected to make binding offers next week, sources told Reuters.
CHINA EV STOCKS — Shares of Chinese electric vehicle makers fell after the European Union confirmed on Thursday that it would increase tariffs on electric vehicles imported from China, taking effect on Friday. The result of this decision is that Nioh It said that while it is currently keeping prices of cars sold in Europe unchanged, it may have to adjust prices “at a later stage.” The stock fell more than 7% during Friday’s trading session. Other Chinese electric vehicle stocks also fell on Friday. shares Xpeng Motors plunged 9% and Zekel fell 8.3%, while Geely and ideal car Decreased 5.6% and 2.8% respectively.
Novo Nordisk — Shares of Novo Nordisk edged up 2% despite concerns that semaglutide in Novo Nordisk’s Ozempic and Wegovy may increase the risk of a rare eye disease. However, Deutsche Bank analyst Emmanuel Papadakis said the Harvard Medical School findings were “hardly a game changer.”
Teck Resources — Share price rose more than 2% Bloomberg reports On Thursday, Canada approved Glencore’s $6.9 billion acquisition of Tektronix’s metallurgical coal business. Tektronix announced that it expected proceeds from the sale to be used to repurchase $2 billion in stock and pledged to invest in “near-term copper growth projects.”
—CNBC’s Alex Harring and Jesse Pound contributed reporting.
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