Take a look at the companies making headlines in midday trading. EVgo — Shares of EVgo soared nearly 61% after the electric vehicle charger company secured a $1.05 billion conditional loan from the Department of Energy. JPMorgan Chase also upgraded EVgo to overweight. Analyst Bill Peterson pointed to EVgo’s utilization compared to peers and its owner-operator model. Hims & Hers Health — Shares of the health and wellness platform plunged 9.6% after the U.S. Food and Drug Administration said shortages of Eli Lilly and Co’s popular Zepbound and Mounjaro diet pills have been resolved. Hims & Her Health has previously developed compounded versions of these drugs to take advantage of shortages. Joby Aviation – Shares fell more than 8%, giving up the previous session’s gains. Joby shares soared nearly 28% on Wednesday after Toyota announced a $500 million investment in the company to support certification and production of its electric air taxis. Levi Strauss – Shares of Levi Strauss fell more than 7% after the denim maker lowered its full-year revenue forecast and reported weaker-than-expected third-quarter revenue. Levi is also considering selling its Dockers business, which the company says has been underperforming. Wolfspeed – Shares of Wolfspeed fell 5.9% after Mizuho downgraded the semiconductor maker to underperform from neutral. The company expects global electric vehicle sales to slow over the next two years and sees growing competition in China as another headwind. Nvidia – Shares of Nvidia rose more than 3% after CEO Jensen Huang told CNBC’s “Closing Bell: Overtime” on Wednesday that the company is seeing “insane” demand for its new Blackwell artificial intelligence chips. . The CEO also said Blackwell is “in full production” and on track to ship in the fourth quarter. Stellantis – Shares fell about 4% and hit a new 52-week low after Barclays downgraded the stock to equal weight from overweight. Analyst Henning Kosmann said the company was “blindsided” by the stock because it was “too slow to acknowledge the U.S. inventory problem and eroded EU/U.S. market share.” Palantir Technologies – The software stock rose more than 4%, adding to the previous session’s gains. Palantir recently announced a partnership with Edgescale AI to launch Live Edge, a platform for applying artificial intelligence to manufacturing, utilities and other sectors. Utilities – Google CEO Sundar Pichai said in an interview with Nikkei that the tech giant is considering using power from nuclear power plants for its data centers, after power supplier Vistra Vistra and Constellation Energy rose more than 5% and 4%, respectively. Investors see both Vistra and Constellation becoming major backers of data center development to develop artificial intelligence technology for technology companies. —CNBC’s Yun Li, Lisa Kailai Han and Hakyung Kim contributed reporting.
