Welcome to Extreme Investor Network, where we provide you with unique insights and valuable information in the world of finance. Today, we’re diving into the companies that are making headlines in midday trading.
Tech stocks are soaring after the Federal Reserve’s recent rate cut decision. Key tech names like Tesla, Meta, Nvidia, and ASML are all seeing significant gains. Tesla and Meta have jumped around 7% and 4% respectively, while chip darlings Nvidia and ASML each advanced more than 5%.
One company that is catching everyone’s attention is Edgewise Therapeutics. Their shares skyrocketed more than 54% after announcing positive top-line trial data for a heart disease treatment. This data showed improved function in patients with hypertrophic cardiomyopathy.
Mobileye Global is also on the move, surging more than 16%. Intel recently announced that it has no plan to divest its majority stake in Mobileye, driving the stock even higher.
In the world of online education, Coursera is making waves. The platform jumped more than 8% after Bank of America initiated coverage with a buy rating. The bank believes Coursera could see continued margin growth and revenue acceleration.
Darden Restaurants, the operator of restaurants like Olive Garden and Cheddar’s Scratch Kitchen, saw its shares rise more than 8% after announcing a collaboration with Uber for on-demand delivery. This news helped balance out Darden’s weaker-than-expected earnings and revenue in its latest quarterly report.
On the flip side, Progyny saw its shares sink more than 30% after losing a significant client. DoorDash, on the other hand, saw a 4% increase thanks to an upgrade to buy from neutral at BTIG.
NextEra Energy Partners also saw a 3% rise in its stock after Jefferies initiated coverage with a buy rating. The investment firm believes the market has already factored in concerns about handling buyouts tied to its convertible equity portfolio.
Crypto stocks are on the rise as bitcoin’s price climbs following the Fed’s rate cut. Companies like MicroStrategy and Coinbase are seeing gains as a result.
Lastly, Alibaba’s shares rose nearly 4% after the company launched more than 100 open-source AI models and announced a new text-to-video tool based on its AI technology to increase competition with domestic rivals.
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