Stocks making the biggest moves midday: NVDA, ADSK, DUOL, BABA
Check out the companies making headlines in midday trading. Nvidia — The heavyweight chipmaker added 1.6%, attempting a comeback after its 8.5% loss from the previous session. Nvidia shares lost momentum this week after the company posted its revenue beat for the period was the smallest in two years . Crypto stocks — Stocks linked to the price of bitcoin rose after the cryptocurrency turned positive on Friday on relief that the latest personal consumption expenditures price index came out in line with forecasts. Bitcoin fell below the $80,000 level overnight for the first time in three months. Shares of Coinbase and MicroStrategy added 2% and 5%, respectively. Miner Mara Holdings popped about 3.9%. Dell Technologies — The PC maker shed more than 4% following the company’s fourth-quarter revenue miss . Dell reported quarterly revenue of $23.93 billion, versus the LSEG consensus estimate of $24.56 billion. Adjusted earnings of $2.68 per share came in above the $2.53 per share expected by analysts. Voya Financial — The New York-based insurance and investment company rose 2.3% after Morgan Stanley upgraded Voya to overweight from equal weight. The firm noted that since Voya’s 2024 full-year earnings miss, management has taken steps to improve the company’s performance and set up a strong growth profile for the company in 2026 and beyond. AES — Shares of the energy utility company popped 12% on full year results that beat analyst expectations. For 2024, the company earned an adjusted $2.14 per share on revenue of $12.28 billion. Analysts polled by FactSet expected a profit of $1.91 per share on revenue of $12.13 billion. Asian stocks – Hong Kong’s Hang Seng Index shed 3.3% on Friday, and U.S. shares of Chinese firms fell after China vowed retaliation , if necessary, against U.S. President Donald Trump’s threat to impose an additional 10% tariff on goods from China on March 4. U.S.-listed shares of Alibaba and PDD Holdings declined 3% and 4%, respectively. Automakers Li Auto and Nio also declined. Duolingo — Shares of the online language learning platform plunged 17% after Duolingo’s guidance for adjusted EBITDA in the current quarter came out below analyst expectations. The company’s subscribers and revenue for the fourth quarter still beat forecasts, however. NetApp — The tech company fell 16% on the back of NetApp’s softer-than-expected revenue print for its fiscal third-quarter. NetApp reported $1.64 billion of revenue, below the LSEG consensus estimate of $1.69 billion expected by analysts, according to LSEG. Adjusted earnings of $1.91 per share came out in line with estimates, but the company’s fourth-quarter guidance was under analysts’ projections of $1.94 to $1.99 per share. SoundHound AI — Shares rallied about 15%. The voice recognition company posted fourth-quarter revenue of $34.5 million, topping the FactSet consensus estimate of $33.7 million. It also raised its full-year revenue guidance to the range of $157 million and $177 million, better than prior guidance for $155 million and $175 million. Autodesk — Shares slipped about 4.7% after the software company announced it is planning to lay off 1,350 employees , or 9% of its workforce. Autodesk also gave fourth-quarter results that beat Wall Street’s estimates, posting adjusted earnings of $2.29 per share on revenue of $1.64 billion, while analysts surveyed by LSEG called for adjusted earnings of $2.14 per share and $1.63 billion in revenue. Walgreens — The struggling drugstore chain’s stock price shed 5% on the back of a downgrade from Deutsche Bank downgraded to sell, which cited “an unusually high degree of uncertainty” around the take-private deal from Sycamore Partners. Sycamore Partners is planning a three-way split of Walgreens Boots Alliance, according to a Financial Times report. Logitech International — Shares of the computer products company fell more than 2% after Bank of America downgraded the stock to underperform from neutral. The investment firm said Logitech’s revenue growth could slow in the coming years, in part due to new tariffs from the United States government. — CNBC’s Sean Conlon, Jesse Pound, Lisa Han, Sarah Min, Yun Li, Lisa Han and Michelle Fox contributed reporting.
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