EIX, EBAY, GETY and more
Check out the companies making headlines in midday trading. eBay – Shares jumped 9.7% and touched 52-week highs after announcing that Meta is testing using its listings on Facebook Marketplace . Buyers from Facebook will be redirected to eBay to complete transactions. The gain put the stock on track for its best day since late 2022. Edison International – The stock lost more than 10.5%, as thousands flee the Los Angeles area due to wildfires destroying homes and infrastructure in the region. The decline put the California-based utility on track for its worst trading day since March 2020. Getty Images – Shares of the image database plunged 21%, reversing course after soaring more than 24% in the previous session. On Tuesday, Getty announced a $3.7 billion merger with Shutterstock . Shutterstock shares tumbled about 12% on Wednesday after gaining 14.8% in the previous session. SolarEdge Technologies – Shares moved 11.7% lower following Citi’s downgrade to sell from neutral. The bank said the company faces “stubbornly high” operating expenses despite restructuring efforts. The stock advanced more than 6% and about 8% on Monday and Tuesday, respectively, after SolarEdge disclosed in a SEC filing that it would cut 400 jobs. Quantum computing stocks – Stocks tied to quantum computing fell after Nvidia CEO Jensen Huang said the technology is likely decades away . Shares of Rigetti Computing and D-Wave Quantum shed more than 45% each, while Quantum Computing dropped 49%. IonQ slid 45%. Maplebear – The grocery delivery company, which does business as Instacart, jumped more than 4% ahead of its inclusion in the S & P MidCap 400 index , effective before the bell on Jan. 14. Maplebear is set to replace Enovis in the index. AAR Corp – Shares of the aviation services provider gained 9% on the back of an earnings and revenue beat for its fiscal second quarter. For the period, AAR posted adjusted earnings of 90 cents per share on revenue of $686.1 million. Analysts polled by FactSet were expecting 85 cents per share and $654.2 million in revenue. Palantir Technologies – Shares shed more than 4%, building on their early 2025 slump. The stock kicked off the week by falling about 5% after Morgan Stanley assumed coverage with an underweight rating , pointing to a risk-reward profile that’s skewed to the downside. Also earlier this week, Cathie Wood sold more than $15 million worth of the software company’s shares across all of her Ark funds. Week to date, the stock has fallen around 15%. Arcadium Lithium – Shares jumped more than 8% after the company said it received clearance from the Committee on Foreign Investment in the United States (CFIUS) for its proposed acquisition by Rio Tinto . Arcadium Lithium expects the transaction to close before mid-2025. Boston Scientific – The stock gained more than 4% on the heels of its announcement that it’s agreed to acquire Bolt Medical . Boston Scientific said it expects the deal to be completed in the first half of this year. Advanced Micro Devices – The stock lost more than 5% after receiving a downgrade to reduce from buy at HSBC, which said that the chipmaker’s AI roadmap is less competitive than previously thought. Cal-Maine Foods – The egg producer rose more than 2% following its latest quarterly results . Cal-Maine Foods earned $4.47 per share and $954.7 million in revenue, with the latter figure marking an 82% increase from the same period a year ago. Shell – The energy giant fell more than 2% after it trimmed its fourth-quarter liquified natural gas production outlook and said that it expects its oil and gas trading results to come in “significantly lower” than in the third quarter. Novo Nordisk – Shares popped nearly 2% after UBS upgraded the pharmaceutical giant to a buy rating from neutral. “Novo remains the most exciting growth story in European pharma and is well placed to continue to benefit from the high demand for GLP-1 medications near-term,” the bank wrote. Shares of Novo Nordisk plunged 40% over the past six months and ended 2024 with a 17% decline. Accolade – The stock surged more than 104% following the announcement that the company is being acquired by Transcarent for $7.03 per share in cash, representing a total equity value of around $621 million. The deal is expected to close during the second quarter of 2025. — CNBC’s Fred Imbert, Alex Harring, Samantha Subin and Lisa Kailai Han contributed reporting.
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