Stocks Making Headlines in Midday Trading
Check out the latest updates on top stocks in midday trading.
Crypto Stocks Surge
Stocks tied to crypto prices saw a significant jump amid reports that President-elect Donald Trump may prioritize crypto as a national focus at the start of his new term. Companies like Coinbase and Robinhood saw gains of 4.5% and 6% respectively. Additionally, Bitcoin proxies MicroStrategy and Mara Holdings gained 6% and 10%.
Novo Nordisk Slips
Novo Nordisk’s shares slipped 5% after its diabetes drugs faced pricing negotiation challenges on Medicare’s list. The company’s semaglutide, found in drugs like Ozempic and Rybelsus, is included in this round of negotiations.
Qorvo and Vistra Performance
Qorvo’s shares rose more than 12% following activist investor Starboard Value’s stake acquisition. Conversely, Vistra’s stock dropped 1.9% after a fire incident at its battery-storage facility in Northern California.
MoonLake Immunotherapeutics Upgrade
MoonLake Immunotherapeutics’ stock saw a 4% increase after receiving a buy rating from Goldman Sachs. Analysts are optimistic about the company’s treatment for a chronic skin condition, SLK.
Semiconductor Stocks Growth
Lam Research and Applied Materials stocks rose after KeyBanc Capital Markets upgraded both to overweight from sector weight. The companies have exposure to AI-related devices, leading to growth projections.
Transport and Fastener Sector Updates
Transport company J.B. Hunt experienced a 6% decline in stock value after missing fourth-quarter earnings expectations. Fastener distributor Fastenal added 1% in share value despite challenges in manufacturing affecting earnings.
Life360 and Intel Trends
Location-sharing app Life360 saw an 8% stock rally following an upgrade from UBS. Intel’s shares surged by 8% amid takeover speculation after the departure of its CEO in December.