Here’s a look at the companies making headlines in midday trading: First Solar — The solar stock fell 8%, posting its worst day since July 15, after Jefferies lowered its price target on the stock and said First Solar’s third-quarter report is expected to live up to its expectations. Jefferies maintained a buy rating on the stock but said near-term challenges such as ongoing supply chain and labor shortages will continue into 2025. Toronto-Dominion Bank — Toronto-Dominion Bank is expected to pay about $3 billion in fines and restrict its U.S. operations as part of a money laundering settlement, the Wall Street Journal reported, citing sources. The bank’s shares fell 3.8% on charges. GXO Logistics — Shares of GXO Logistics rose more than 14% after Bloomberg reported that the company was exploring a potential sale, citing people familiar with the matter. GXO Logistics is working with financial advisers on the matter, but no final decision has been made, according to Bloomberg. Celsius Holdings — Shares of the energy drink maker soared more than 13% following positive comments from many research firms after the conference. “The energy drink trend should accelerate, led by comparability, innovation and (and) pricing,” Stifel said. On Wednesday, Piper Sandler said its latest teen survey showed Celsius was the favorite among that group. Tesla — Shares of Tesla were little changed ahead of the electric car maker’s robo-taxi activity after the bell on Thursday. Investors expect Tesla to unveil its Cybercab robotaxi prototype, as well as advances in driver assistance and artificial intelligence capabilities. American International Group — JPMorgan upgraded the insurance giant to overweight from neutral, citing “more reasonable” consensus EPS forecasts and an “improving” valuation after underperformance. The company’s shares rose about 1%. CVS Health — Shares of CVS Health rose 1.8% after Barclays upgraded the drugstore chain to overweight from equal weight. The company believes CVS has compelling profit recovery opportunities. 10x Genomics — Shares of the single-cell market leader plunged more than 25% after 10x said it expected third-quarter revenue of $151.7 million, down about 1% from the same period last year. The company’s CEO said that due to recent changes in business processes and organizations, it has undergone a 10x transformation that is more disruptive than expected, especially in the “Americas”. PayPal — Shares of the payments platform fell 2.9% after Bernstein downgraded the company to market perform from outperform. Analyst Harshita Rawat said the upside remains uncertain after the recent surge, noting that Venmo could lose momentum to rivals in the peer-to-peer payments business. —CNBC’s Lisa Han, Sean Conlon, Sarah Min, Hakyung Kim and Michelle Fox contributed reporting.
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