Take a look at the companies making headlines in midday trading. Astera Labs – Shares of Astera Labs rose more than 16% after the company sells data center connectivity chips and launched new fiber-optic switches for artificial intelligence. Norwegian Cruise Line – Shares of Norwegian Cruise Line soared 10% after Citi upgraded the company to buy from neutral. Citi said the company should see significant earnings per share growth, which could drive earnings higher and expand margins. Bayer – The life sciences company’s U.S.-listed shares fell about 7%. The Washington Supreme Court said it will review a case against the company alleging that several people at Sky Valley Education Center in Washington state were harmed by exposure to products made by a Monsanto subsidiary. Reddit – Shares of the social forum rose nearly 2% after Jefferies initiated a buy rating on the company. Analyst John Colantuoni said high user growth and a narrowing monetization gap could put Reddit ahead of peers and boost its bottom line. Arcadium Lithium – Shares of Arcadium Lithium soared nearly 31% after mining company Rio Tinto announced it would acquire the company for $5.85 per share. Meanwhile, Rio Tinto shares edged lower on the news. GitLab – The software stock rose more than 7% after Morgan Stanley initiated an overweight rating. The company believes that GitLab can become a key consolidator in the market due to its broad offering in the software delivery pipeline. Helen of Troy – Shares of the home furnishings company soared more than 19% after the company beat Wall Street’s second-quarter profit expectations. Helen of Troy reported earnings of $1.21 per share on revenue of $474.2 million, above the $1.05 per share and $458.9 million expected by analysts polled by FactSet. Chewy – Shares of the online pet products retailer rose 3% after TD Cowen issued a buy rating on the stock. The Wall Street firm said Chewy is the leading pure-play e-commerce product in the $144 billion U.S. pet industry. Boeing Co. — Shares of the aerospace giant fell another 2% on Wednesday as a strike by the machinists union continued. Boeing withdrew its contract offer to the union on Tuesday after talks failed to reach an agreement. S&P Global Ratings also issued a negative outlook on the company’s credit rating. Alphabet – The big tech stock fell nearly 2% after the Justice Department revealed it was considering potentially breaking up Google. This comes after a U.S. judge ruled in August that Google has a monopoly in search and text advertising. —CNBC’s Alex Harring, Yun Li, Lisa Kailai Han and Jesse Pound contributed reporting.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved