Welcome to Extreme Investor Network, where we provide you with unique insights and expert analysis in the world of finance. Today, we are diving into the latest market trends and stock movements that are making headlines in midday trading.
BlackBerry made waves with a 7% increase in shares after announcing a partnership with Advanced Micro Devices on robotics systems. Moderna, the vaccine maker, saw a 6% gain as reports surfaced about promising results in an early stage study for their cancer drug in collaboration with Merck.
On the flip side, Tilray Brands experienced a significant drop of nearly 21% after reporting a wider-than-expected quarterly loss. American Eagle Outfitters briefly surged up to 4.4% following an upgrade by JPMorgan, only to dip slightly in midday trading. Ally Financial gained 1.5% after an upgrade to buy from neutral at Bank of America, highlighting the company’s potential for higher earnings.
In the EV sector, ChargePoint saw a 4.3% drop after a Goldman Sachs downgrade to sell, citing slower growth in U.S. EV sales and rising competition. Molson Coors, on the other hand, received an upgrade to buy from Goldman Sachs, leading to a 1% stock increase.
Pfizer stock saw a slight rise after announcing promising results for its respiratory syncytial virus vaccine. Norfolk Southern gained 1% following a $600 million settlement related to a derailment and posting preliminary first-quarter earnings slightly below expectations. On the other hand, Nvidia shares fell 2%, marking its fifth losing session in six.
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