A look at the companies making headlines in midday trading: Teva Pharmaceuticals, Sanofi — Teva Pharmaceuticals, Sanofi — After announcing positive results from a Phase 2b trial of duvakitug, a combination treatment for moderate to severe disease Pharmaceuticals and Sanofi shares rose more than 23% and 6%, respectively. Pfizer — Shares of Pfizer rose about 4% after the biopharmaceutical company’s 2025 outlook was in line with Wall Street expectations. Pfizer expects revenue next year to be between $61 billion and $64 billion, in line with the consensus estimate of $63.22 billion, according to FactSet. Quantum Computing – The stock soared more than 38% after NASA’s Goddard Space Flight Center awarded the company a major contract to support the agency’s needs for advanced imaging and data processing through the use of Quantum’s entropy quantum optimization machines, Set a new 52-week high. SolarEdge Technologies — The stock rose 21% after Goldman Sachs downgraded its rating to buy from sell. The bank said 2025 will be a key turning point for the clean energy company’s major turnaround. Red Cat — The drone technology company reported a fiscal second-quarter loss of 18 cents a share, sending its stock down 12%, worse than a loss of 11 cents a share in the same period last year. Red Cat shares have risen about 17% in the past week, surging after mysterious drone sightings in New Jersey bolstered optimism that Wall Street could pump more money into the industry. Nvidia, Broadcom — Shares of Nvidia and Broadcom fell more than 1% and nearly 5%, respectively, after chip stocks moved in opposite directions in previous sessions. On Monday, Nvidia fell into correction territory. Meanwhile, Broadcom reported better-than-expected fourth-quarter earnings on Thursday, pushing the stock’s market value past $1 trillion on Friday. It’s up more than 39% in the past week. Tesla – The electric car stock rose 1% after Mizuho upgraded its performance to outperform from neutral. The company said it expects Tesla to be a beneficiary of regulatory changes expected by President-elect Trump, such as those related to autonomous driving. Manchester United — The stock rose nearly 2% after UBS Group AG issued a buy rating. The company believes the UK-based professional football club’s “excellent” revenue base could ultimately lead to improved performance and net profit. Epam Systems, Cognizant Technology Solutions – IT services stocks gained 2% and about 1% respectively after Barclays upgraded them to overweight from equal weight. The British bank said investments from these companies could help them win demand when the industry returns. Affirm Holdings – Shares of Affirm Holdings fell more than 3% after the buy now, pay later company announced a private placement of $750 million in convertible senior notes. Affirm also said it expects to repurchase up to $300 million of its Class A common stock. Amentum Holdings — The engineering company and government contractor fell 12% after reporting quarterly results. Amentum reported an expected fiscal fourth-quarter loss of 21 cents per share, compared with a profit of 17 cents per share in the same period a year ago. —CNBC’s Alex Harring, Lisa Kailai Han, Pia Singh and Michelle Fox contributed reporting.
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