Before the bell rings, see which businesses are in the news.
SolarEdge Technologies The solar stock experienced a 6% decline. Despite the company’s reorganisation statement, Citi downgraded SolarEdge from neutral to sell, citing “stubbornly high” operational expenses.
Novo Nordisk — After being upgraded to buy from neutral at UBS, the pharmaceutical behemoth saw a more than 3% increase in price.
After HSBC lowered the technology maker to a cut recommendation from buy, Advanced Micro Devices’ shares fell almost 3%. The company’s AI GPU plan is less competitive than initially thought.
Carvana – Upgraded to purchase from neutral at Citi, the auto vendor saw a 2% increase. Ronald Josey, an analyst, claimed that Carvana was effectively increasing inventories to satisfy rising customer demand.
Maplebear — Instacart’s parent company’s stock increased by about 5%. Before trading starts on Tuesday, January 14, Maplebear will take Enovis’ spot in the S&P MidCap 400 index.
Shell — After reducing its fourth-quarter liquified natural gas output projection, the energy behemoth saw a 3% decline. Shell also anticipates lower-than-expected results from its oil and gas trading.
Cal-Maine Foods: The egg producer’s fiscal second-quarter results caused it to rise by almost 5%. Cal-Maine Foods’ revenue of $954.7 million represented an 82% increase over the same period last year, while the company posted earnings of $4.47 per share.
AAR Corporation — After beating earnings for the fiscal second quarter, the aviation services provider saw an over 4% increase in value.
The Getty Image — Following the announcement of Getty’s $3.7 billion merger with Shutterstock, the picture database had a 10% decline after rising nearly 24% during Tuesday’s normal session.Stocks of quantum computing.
After Nvidia CEO Jensen Huang stated that the computers will be ready in 15 to 30 years, quantum stocks fell on Wednesday.
Flutter Entertainment— Citing poor sports performance, the sports betting and gambling company cut its 2024 U.S. revenue projection, causing shares to drop 2.5 percent.
Source (CNBC)
