Here’s a look at the companies making headlines in midday trading: Bristol-Myers Squibb — The drugmaker’s drugmaker’s shares have Shares rose more than 3% on the drug, the first in the U.S. to treat chronic mental disorders. Bristol-Myers Squibb expects the twice-daily pill to be available under the brand name Cobenfy by the end of October. Novo Nordisk — The Danish drugmaker’s U.S.-listed shares fell 2.9% after JPMorgan said it expected third-quarter sales to fall short of Wall Street forecasts, citing Novo Nordisk’s blockbuster weight-loss drug Wegovy’s outlook is below consensus. Costco Wholesale — The retailer fell 1.7%, missing its fiscal fourth-quarter revenue forecast. Revenue was $79.7 billion, slightly below the consensus estimate of $79.97 billion, according to LSEG. Costco’s revenue has been dented by softer gasoline prices and consumers becoming more cautious about spending on higher-priced items. Super Micro Computer — Shares of the server and storage supplier rose 3%, recouping some of their 12% losses on Thursday after the Wall Street Journal reported a U.S. Department of Justice investigation into the company. This comes after short seller Hindenburg Research revealed last month that it had taken a short position in the company, citing “new evidence of accounting manipulation.” Cassava Sciences — Shares fell 11% after the biotech company agreed to pay $40 million to settle with the U.S. Securities and Exchange Commission. The charges are for “misleading statements” in 2020 related to so-called clinical trials for Alzheimer’s treatments. Wynn Resorts — The stock rose about 6% as Morgan Stanley upgraded the stock to overweight from equal weight. The investment bank believes the casino operator is more stable than peers in Las Vegas and pointed to the release of more details about its UAE projects as a catalyst. HP Co. — Shares of the tech hardware maker fell more than 3% after Bank of America downgraded HP stock to neutral from buy, citing expectations that profit growth in HP’s printing business will struggle and revenue will fall. Amgen — Shares of the biotech company rose 2% after Cantor Fitzgerald initiated research coverage with an overweight rating. Analyst Olivia Brayer said Amgen’s new obesity program and future drug pipeline are compelling catalysts. American Rocket Lab. — Aerospace and defense stocks rose 16% after KeyBanc Capital Markets raised its price target and retained an overweight investment rating. Analyst Michael Leshock said he had “increased visibility/confidence in RKLB’s ability to scale its business” following a non-deal roadshow. —CNBC’s Sean Conlon, Alex Harring, Yun Li, Hakyung Kim, Samantha Subin and Pia Singh contributed reporting.
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