See the companies making headlines in midday trading. eBay – Shares jumped nearly 10% to a 52-week high after announcing Meta was testing its Facebook Marketplace listings. Facebook buyers will be redirected to eBay to complete transactions. This growth allowed the company’s shares to have their best day since the end of 2022. Edison International shares lost 10.2% as thousands of people flee Los Angeles as wildfires destroy homes and infrastructure in the region. The decline put the California utility on track for its worst trading day since March 2020. Getty Images – Shares of the image database fell 17.6%, reversing course after rising more than 24% in the previous session. On Tuesday, Getty announced a $3.7 billion merger with Shutterstock. Shutterstock shares fell 11.1% on Wednesday after rising 14.8% in the previous session. SolarEdge Technologies – Shares fell 14.8% after Citi downgraded its rating from neutral to sell. The bank said the company faces “persistently high” operating costs despite restructuring efforts. The company’s shares rose more than 6% and about 8% on Monday and Tuesday, respectively, after SolarEdge said in an SEC filing that it would cut 400 jobs. Quantum computing stocks. Quantum computing stocks fell after Nvidia CEO Jensen Huang said the technology was likely decades away. Rigetti Computing and D-Wave Quantum shares fell more than 45% and 36%, respectively, while Quantum Computing shares fell more than 43%. IonQ shares fell 39%. Maplebear, a grocery delivery company that does business under the Instacart brand, 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 S&P MidCap 400 index. AAR Corp. Shares of the aviation services provider rose more than 8% on strong earnings and revenue 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 had expected 85 cents per share and revenue of $654.2 million. Palantir Technologies – Shares fell 2.5%, extending their decline into early 2025. The stock started the week down about 5% after Morgan Stanley took coverage with an underweight rating, indicating the risk-reward profile is skewed to the downside. Also earlier this week, Cathie Wood sold more than $15 million worth of shares in the software company across all of her Ark funds. The stock is down about 15% in the week to date. Arcadium Lithium shares jumped more than 8% after the company said it had received approval from the Committee on Foreign Investment in the United States (CFIUS) for its proposed acquisition of Rio Tinto. Arcadium Lithium expects the transaction to be completed by mid-2025. Boston Scientific – The company’s shares rose 4.3% after announcing it had agreed to acquire Bolt Medical. Boston Scientific said it expects the deal to close in the first half of this year. Advanced Micro Devices. The company’s shares lost 4.3% after HSBC downgraded the stock from buy, saying the chipmaker’s artificial intelligence roadmap is less competitive than previously thought. Cal-Maine Foods – Shares of the egg producer rose 1% in 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’s shares fell 1.8% after it cut its fourth-quarter liquefied natural gas production forecast and said it expected oil and gas trading results to be “significantly lower” than in the third quarter. Novo Nordisk – Shares jumped nearly 3% after UBS upgraded the pharmaceutical giant from neutral to buy. “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 40% over the past six months and ended 2024 down 17%. Kudos – The stock is up nearly 105% following the announcement that the company is being acquired by Transcarent for $7.03 per share in cash, representing a total equity value of about $621 million. The transaction is expected to close in the second quarter of 2025. — CNBC’s Fred Imbert, Alex Harring, Samantha Subin and Lisa Kailai Han contributed reporting.
