Stocks to Watch: GME, MRK, CCL and Beyond

Hey there, stock market enthusiasts! Today we have some exciting updates on the companies making headlines in midday trading. Let’s dive right in and see what’s been happening.

GameStop: GameStop saw a 15% drop in its stock price after reporting lower fourth-quarter revenue compared to last year. The company also announced the elimination of some roles to cut costs.

Merck: Merck’s stock soared 5% after the U.S. Food and Drug Administration approved its drug to treat a life-threatening lung condition.

Carnival: Despite reporting first-quarter revenue slightly below analyst expectations, Carnival saw its shares rise by 1%. The cruise operator also reported a better-than-expected adjusted loss per share and provided full-year guidance in line with estimates.

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Cintas: Shares of Cintas jumped 8% after the company posted strong quarterly results and raised its full-year earnings and revenue guidance. Gross margins also showed a significant increase year over year.

Reddit: Reddit’s stock took a hit, dropping 11% after a recent surge following its IPO on the New York Stock Exchange.

Marvell Technology: Marvell Technology gained 6% after receiving a positive catalyst watch from Citi, attributing the increase to the semiconductor stock’s artificial intelligence presentations.

Robinhood: Robinhood’s shares rose nearly 4% after announcing a new product, the Robinhood Gold Card, which offers high cash back rewards to customers.

Deutsche Bank: Deutsche Bank’s stock popped nearly 4% following an upgrade to overweight from Morgan Stanley, projecting further gains for the German bank.

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General Electric: Shares of General Electric rose 3% after Wells Fargo reiterated its overweight rating and increased its price target, citing potential benefits from cost cuts.

Concentrix: Concentrix saw a 5% increase in its stock price after reporting first-quarter revenue that exceeded estimates and reaffirming its guidance for the year.

Coinbase: Coinbase’s shares fell nearly 4% after a judge ruled on a lawsuit with the SEC over whether the company operates as an exchange.

Moderna: Moderna’s stock rose 3% after announcing the transition of three vaccines into final-stage trials.

Trump Media & Technology Group: The social media firm and Truth Social parent company, led by former President Donald Trump, saw its shares soar over 14% following its debut under the DJT ticker.

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nCino: Lastly, nCino’s cloud stock surged 19% on better-than-expected fourth-quarter earnings, along with a 13% jump in revenue from the previous year.

That wraps up our midday trading update for today! Stay tuned for more market insights and analysis.
Until next time!

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