Take a look at the companies making headlines in midday trading. BlackBerry — BlackBerry shares rose more than 9% after announcing a partnership with Advanced Micro Devices for robotics systems. Moderna — The vaccine maker’s shares rose 6%. Reuters reports that a cancer drug developed by Moderna in partnership with Merck showed promising results in an early-stage study of individuals with a certain type of neck and head cancer. Boeing Co. – The planemaker’s shares fell more than 2% after the New York Times reported that regulators are investigating whistleblower allegations about defects in the company’s 787 Dreamliner jets. Alphabet — Alphabet shares rose 1.1% as Wall Street prepared for its Google Cloud Next event keynote. The company also launched new customized Arm-based chips. Tilray Brands – The cannabis company’s stock price plunged nearly 20% after reporting a larger-than-expected quarterly loss. Tilray lost 12 cents in its latest quarter. Analysts polled by FactSet expected a loss of 5 cents. The company also reported revenue that missed expectations. American Eagle Outfitters — The retail stock rose 4.4% after JPMorgan upgraded the stock to overweight from neutral. The bank cited sales plans and operational changes at American Eagle Outfitters during the conference call. However, shares were slightly lower in midday trading. Ally Financial — shares rose 1% after Bank of America upgraded the stock to buy from neutral. The bank said Ally Financial’s earnings were likely to be higher than expected and believed Ally’s underlying credit leverage may be undervalued. ChargePoint – Goldman Sachs downgraded the electric vehicle charging station operator to sell from neutral, saying slower U.S. electric vehicle sales growth and increased competition for electric vehicle charging could adversely affect ChargePoint’s revenue and demand for its services. Shares fell 4.6%. Molson Coors — Shares of Molson Coors rose 0.7% after Goldman Sachs upgraded the brewing company to a buy rating and said it could benefit because it has more shelf space at retailers. Pfizer — Shares of Pfizer edged higher after the company announced that its respiratory syncytial virus vaccine showed promise in protecting adults under 60 years of age. The stock rose 3.2% at the day’s peak. Neogen Corp — The food safety stock fell 9% after unexpectedly losing 1 cent per share. The company also lowered its previous guidance, saying it now expects full-year revenue to be between $920 million and $910 million. Norfolk Southern — Railroad stocks rose 1%. Norfolk Southern announced a $600 million settlement over the East Palestine derailment. The company also reported preliminary first-quarter profit of $2.49 per share, below StreetAccount’s forecast of $2.60 per share. Nvidia — Shares fell more than 2%, putting the chipmaker on track for its fifth decline in six sessions. It’s unclear what caused the stock price to drop. Netflix, another 2024 behemoth, was also lower on the day. —CNBC’s Michelle Fox, Sarah Min, Pia Singh and Yun Li contributed reporting.
