Before you call, check out the companies that are making headlines. SolarEdge Technologies — Solar energy shares fell 6%. Citi downgraded SolarEdge to sell from neutral, saying the company faces “persistently high” operating costs despite the restructuring announcement. Shares rose 6.6% and 8% on Monday and Tuesday, respectively, after SolarEdge said Monday it would cut 400 jobs. Novo Nordisk – Shares of the pharmaceutical giant rose more than 3% after UBS upgraded its stock rating to neutral. “Novo remains the most exciting growth story in European pharmaceuticals and is well positioned to continue to benefit from strong demand for GLP-1 drugs in the near term,” the bank wrote. Novo Nordisk shares have fallen more than 40% over the past six months. Advanced Micro Devices shares fell about 3% after HSBC downgraded the technology maker to downgraded from buy. The ban says the company’s artificial intelligence roadmap for GPUs is less competitive than previously thought. Carvana – Shares of the car retailer rose 2% as the stock price rose to a neutral position in Citi. Analyst Ronald Josey said Carvana has been effectively building inventory to meet rising consumer demand. Maplebear — Shares of grocery delivery company parent Instacart jumped nearly 5%. Maplebear will replace Enovis in the S&P MidCap 400 Index, effective prior to the start of trading on Tuesday, January 14th. Shell – Shares of the energy giant fell 3% after cutting its liquefied natural gas production forecast for the fourth quarter. Shell also expects oil and gas trading results to be lower than in previous months. Cal-Maine Foods — Shares of the egg producer rose nearly 5% on fiscal second-quarter results. Cal-Maine Foods reported earnings of $4.47 per share and its revenue of $954.7 million increased 82% year-over-year. AAR Corp. Shares of the aviation services provider gained nearly 4% after earnings rose in the second quarter of the fiscal year. AAR reported adjusted earnings of 90 cents per share, higher than the 85 cents expected by analysts polled by FactSet. The company’s revenue of $686.1 million also beat expectations of $654.2 million. Getty Images – The image database fell 10% after rising more than 24% during the regular session Tuesday after Getty announced a merger with Shutterstock worth $3.7 billion. Shutterstock shares fell more than 5% in early trading on Wednesday after rising 14.8% on Tuesday. Quantum computer stocks. Quantum shares fell Wednesday after Nvidia CEO Jensen Huang said computers are 15 to 30 years away. The Defiance Quantum & AI ETF fell 3% and Rigetti Computing fell 25%. D-Wave Quantum and Quantum Computing fell about 24% each, followed by IonQ, which lost 15%. Flutter Entertainment – Shares fell 2.5% after the sports betting and gaming company cut its 2024 U.S. revenue forecast, citing unfavorable sports results. Flutter now expects revenue to be about $5.78 billion, down from a previous estimate of $6.05 billion to $6.25 billion. — CNBC’s Michelle Fox, Sarah Min and Jessie Pound contributed reporting.
