See the companies making headlines in midday trading. BlackBerry — BlackBerry shares jumped nearly 7% after the company announced a partnership with Advanced Micro Devices on robotics systems. Moderna – Vaccine maker added 6%. A cancer drug Moderna is working on with Merck has shown promising results in an early-stage study in people with a certain form of neck and head cancer, Reuters reported. Boeing. Shares of the plane maker fell nearly 2% after a New York Times report said regulators were investigating whistleblower claims about flaws in the company’s 787 Dreamliner plane. Alphabet — Alphabet shares rose 1.1% as Wall Street prepared for the keynote at the Google Cloud Next event. The company also introduced new Arm-based chips. Tilray Brands — Shares fell nearly 21% after the cannabis company reported a larger-than-expected quarterly loss. Tilray reported a loss of 12 cents in its latest quarter. Analysts polled by FactSet had expected a loss of 5 cents. The company also reported lost profits. American Eagle Outfitters – The retailer briefly gained as much as 4.4% as JPMorgan upgraded its rating to outperform from neutral. During the call, the bank cited American Eagle Outfitters’ merchandising initiatives and operational changes. However, shares were down slightly in afternoon trading. Ally Financial — Shares rose 1.5% after Bank of America upgraded its stock rating to neutral. The bank said Ally Financial’s earnings could be higher than expected and believes Ally’s potential leverage may be underestimated. ChargePoint – Shares fell 4.3% after Goldman Sachs downgraded the electric vehicle charging station operator to neutral, saying slower U.S. electric vehicle sales growth and increased competition in the EV charging space could be a drag on ChargePoint’s earnings and demand for its services. Molson Coors — Shares rose 1% after Goldman Sachs upgraded the brewer to buy, saying Molson Coors could benefit as it demands more retail shelf space. Pfizer — Pfizer shares rose slightly after the company announced that its respiratory syncytial virus vaccine promises to protect adults under 60 years of age. At the day’s high, shares were up 3.2%. Neogen Corp – Food safety shares fell 9% after the company reported a surprise loss of 1 cent per share. The company also cut its previous forecast, saying it now expects full-year revenue to be between $920 million and $910 million. Norfolk Southern — Railroad shares rose 1%. Norfolk Southern announced it has reached a $600 million settlement in connection with the plane crash in East Palestine. The company also reported preliminary first-quarter earnings of $2.49 per share, below StreetAccount’s forecast of $2.60 per share. Nvidia — Shares fell 2%, putting the chipmaker on track for its fifth losing session in six. It is unclear what caused this decline. Netflix, another 2024 stalwart, also fell that day. — CNBC’s Michelle Fox, Sarah Min, Pia Singh and Yun Lee contributed reporting.
