Here’s a look at the companies making headlines in midday trading: Broadcom — Shares of Broadcom jumped 5% after The Information reported the semiconductor maker was helping Apple develop artificial intelligence chips. Apple shares rose less than 1%. C3.ai — Shares of the enterprise artificial intelligence software company fell 7.2% after JPMorgan downgraded the company to underweight from neutral. Analyst Pinjalim Bora said high valuations were the catalyst behind the change, adding that he now expects the stock to underperform in 2025. Its shares fell more than 4% after the 2018 forecast. Macy’s now expects adjusted earnings per share of $2.25 to $2.50, compared with the previous forecast of $2.34 to $2.69. GE Vernova — Shares of GE Vernova rose more than 6% after the energy equipment maker announced it would pay a dividend of 25 cents per share and authorize an initial $6 billion in share buybacks. GE Vernova also raised its profit forecast for 2028 to 14% from 10%. Dave & Buster’s Entertainment — The amusement park and restaurant operator missed profit and revenue estimates and announced the departure of Chief Executive Chris Morris, sending its shares tumbling 15.1%. Dave & Buster’s reported a third-quarter loss of 84 cents per share on revenue of $453 million. Analysts polled by LSEG expected a loss of 37 cents per share on revenue of $466 million. Duolingo — Shares of Duolingo fell 5.5% after Bank of America downgraded the language-learning company to neutral from buy. The bank said Duolingo appears to be trading at a “peak valuation” and said the company may struggle to beat consensus estimates in its next quarterly report. GameStop – Meme shares soared more than 9% after the video game retailer unexpectedly posted a profit in its latest quarter. GameStop reported third-quarter net profit of $17.4 million, compared with a net loss of $3.1 million in the same period last year. Patterson — Shares of the dental and animal health company soared 34% following news that Patient Square Capital was acquiring Patterson. The healthcare investment firm will pay $31.35 per share, and the deal is expected to close in Patterson’s fourth quarter of fiscal 2025. Stitch Fix — Shares of Stitch Fix surged 44% after the online personal styling company raised its fiscal second-quarter revenue forecast. The company also raised the upper end of its full-year revenue guidance, forecasting $1.14 billion to $1.18 billion, up from its previous forecast of $1.11 billion to $1.16 billion. General Motors — The Detroit automaker’s shares fell 1.5% after it exited its Cruise robo-taxi service, after plowing more than $10 billion into the service. GM said it will no longer fund development, citing increasing competition and capital allocation priorities as reasons for the decision. Bausch + Lomb — Shares of the contact lens supplier plunged 13% after Citi downgraded the company to “neutral” from “buy.” The bank cited increased competition as the reason for the downgrade. Wolverine World Wide — The owner of the Merrell and Saucony shoe brands rose 6% after Stifel upgraded the company to hold. Wolverine World Wide’s earnings growth potential appears compelling and next year is a “turning point year” for the stock, the company said. JetBlue Airways — Shares of JetBlue Airways jumped nearly 5% after the airline announced plans to add domestic first-class seats starting in 2026 on aircraft without its existing top-tier Mint cabin. Latest initiatives. Figs — Shares of Figs soared 16% after the Wall Street Journal reported that Figs received a takeover bid from Story3 Capital Partners. The private equity firm values the company at more than $1 billion and is offering $6 per share for the outstanding Figs common stock it doesn’t already own, according to the Wall Street Journal. Krispy Kreme — Shares fell 2% after the donut chain disclosed a cybersecurity breach in a regulatory filing that disrupted its operations, including online ordering in the U.S. Pharmacy Benefit Manager — CVS after lawmakers proposed Shares of Health, UnitedHealth and Cigna all fell about 5% after a Senate bill would ban companies that own health insurance companies, or PBMs, from owning pharmaceutical businesses. The bill would force the companies to exit the pharmaceutical business within three years. —CNBC’s Michelle Fox, Alex Harring, Hakyung Kim, Yun Li, Sarah Min and Pia Singh contributed reporting.
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