JD.com truck receives incoming goods and prepares shipments at Gu’an warehouse based in Northeast China and distribution facility in Gu’an, China.
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Check out which companies are making headlines in the midday trading.
Biogen Shares of biotechnology companies fell 3% after Biogen revamped its board of directors. Beogen said Monday that three current board members will not run for re-election, while former chief of corporate strategy Susan Langer has been nominated to the board.
inspiration Shares rose 2.7% to an all-time high on the back of a strong fiscal fourth-quarter earnings report. Oracle reported $1.67 in adjusted earnings per share, while analysts in a Refinitiv poll expected $1.58. Revenue also came in higher than expected at $13.84 billion versus an estimate of $13.74 billion. Goldman Sachs upgraded Oracle to neutral from sell after the report.
Norwegian Cruise Line Holding Norwegian Cruise Line Holdings jumped 4.8% to the highest level since May 2022 after Bank of America on Monday raised its price target to $19 from $17, even though the company maintained a neutral investment rating. carnivalThe target went to $20 from $11, and also rose to the highest level since May 2022, while Royal CaribbeanIt rose to $95 from $82 and the stock touched the highest level since November 2021.
Urban Outfitters The retailer gained nearly 4% after upgrading to Overweight by Morgan Stanley. The Wall Street firm cited Urban Outfitters’ low valuation compared to its peers and improvement in business fundamentals.
Devon Energy Energy stocks increased by 2.7%. Goldman Sachs upgraded Devon to buy from neutral, saying it is trading at an attractive price and looks poised to rise as the outlook for production and capital spending improves.
Oil Inventories – Oil stocks rose broadly as WTI climbed after Monday’s losses. the VanEck Oil Services ETF rose more than 4%. shares Halliburton jumped 5.7% while across the ocean jumped 4.2%.
Zions Bancorporation – The Salt Lake City-based bank lost 12.4% after saying that expected net interest income was “decreasing.” The bank’s previous outlook was “moderately declining,” according to StreetAccount. The update came in a presentation posted on Monday afternoon.
Chinese internet, metals and mining stocks – Chinese internet, metals and mining stocks jumped on Tuesday after the People’s Bank of China cut its key short-term interest rate in an effort to spur a post-Covid recovery. the KraneShares CSI China Internet ETF It increased by 2.7% while JD.com 3.3% profit. Metals and mining stocks were also boosted by the news, with stocks Freeport McMoRan And steel dynamics Hashid 5.1% and 4.3%, respectively.
— CNBC’s Samantha Sobin, Sarah Maine, Alexander Haring, and Jesse Pound contributed to reporting.
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