DNUT, DJT, MKC and more
Check out the companies making headlines in midday trading. Krispy Kreme — Krispy Kreme popped 39% and notched its best day on record. McDonald’s plans to sell the company’s doughnuts at its restaurants nationwide by the end of 2026, with the initial rollout beginning later this year. McDonald’s shares were little changed. Trump Media & Technology Group — Shares of former President Donald Trump’s social media company surged 16% after it began trading on the Nasdaq . Trump Media completed its merger with shell company Digital World Acquisition Corp . on Monday. McCormick — The stock jumped 10% after the spice maker topped earnings and revenue expectations for its fiscal first quarter. McCormick’s adjusted earnings per share were 63 cents, compared to the 58 cents consensus estimate, according to FactSet. Revenue came in at $1.6 billion versus the $1.55 billion expected. Reddit — Reddit popped about 9% as investors continued buying up the social media stock following its Thursday debut on the New York Stock Exchange . The stock rallied 30% on Monday. Viking Therapeutics — The biotechnology stock rallied nearly 17% after the company announced that its experimental weight loss drug showed promising results in a small trial. Viking Therapeutics said the pill will move to the next stage of development this year. Seagate Technology — The data storage stock added 7.4% on the heels of a Morgan Stanley upgrade to overweight from equal weight. Morgan Stanley said the company has better earnings power from generative artificial intelligence and other drivers. Micron Technology — The memory chipmaker added 1.4% after Mizuho Securities reiterated its buy rating and upped its price target on the stock . The firm cited a strong AI opportunity that could contribute to stronger sales in late 2024 and 2025. UPS — Shares of the delivery stock fell more than 8% as Wall Street digested a long-term forecast update. UPS said it expected revenue to potentially reach $114 billion in 2026 after shrinking last year, but Wall Street analysts raised questions about the pricing used in the forecast. Canada Goose — The luxury coat and parka maker slipped about 7% after announcing it plans to cut 17% of its global corporate workforce as it looks to trim costs and consumers cut back on discretionary spending. Super Micro Computer — The stock slipped 1.7%. Earlier in the session, Super Micro Computer built on gains form Monday after JPMorgan initiated coverage of the stock with an overweight rating . The firm named the server and storage solutions provider a leader of the growing AI compute market that it said is “still in its infancy.” — CNBC’s Alex Harring, Michelle Fox, Jesse Pound and Pia Singh contributed reporting.
- Finance
