A look at companies garnering attention in midday trading: NVIDIA — Shares of the artificial intelligence darling rose about 2.5% after KeyBanc raised its target price to $180, implying a roughly 40% increase from Monday’s closing price. The company said demand for NVIDIA’s H100 chips “remains robust” despite Blackwell’s looming launch later this year. Helen of Troy — Shares of the home goods company plunged nearly 28%, hitting a new 52-week low during trading. The company reported lower-than-expected first-quarter fiscal 2025 earnings of 99 cents a share excluding items before the close. Analysts surveyed by FactSet had expected earnings of $1.59 a share. The company also lowered its full-year guidance. UiPath — The software stock fell about 7% after the company announced plans to cut about 10% of its workforce globally. Most of the cuts are expected to take effect by the end of the first quarter of fiscal 2026. The company said this is part of a restructuring plan to control operating expenses. Jumia Technologies — The company’s shares rose about 30% to a new 52-week high after Benchmark initiated a buy recommendation rating on the stock. The $14 price target suggests an upside of about 65.5% from Monday’s closing price. The company believes the e-commerce platform is at an inflection point, citing the region’s changing demographics and the company’s positioning as a pan-African leader with tailored services to capture demand as catalysts. Chemours — The chemical company’s shares rose nearly 1% after UBS upgraded it to buy from neutral. The company sees potential for outperform, citing favorable demand and pricing drivers heading into 2025. BP — The oil and gas giant’s U.S.-listed shares fell 4.8% after the company warned it expects to book up to $2 billion in impairments in the second quarter and expects weaker refining margins, which the company said will weigh on earnings results. Lucid — The electric vehicle company’s shares fell more than 2% after rising about 8% the previous trading day. Lucid surged after the company said it delivered 2,394 vehicles in the second quarter, up 70% from a year ago. Novo Nordisk — The healthcare stock fell about 1.9%. A study published Monday in JAMA Internal Medicine found that tirzepatide, the active ingredient in Eli Lilly’s Maunjaro and Zepbound, is more effective at reducing weight than semaglutide, the active ingredient in Novo Nordisk’s Ozempic and Wegovy. Eli Lilly shares rose about 1.6%. Sony — Shares surged 4.4% after Paramount Global parent National Amusements and Skydance Media agreed to merge. CNBC reported that Sony and Apollo were bidding for the deal. Tesla — The electric-car company’s shares surged 3.7%. Morgan Stanley maintained its overweight rating on Tesla, noting that the company had 15% of the global battery electric vehicle market in May. The company’s shares are on track for a 10th consecutive day of positive growth. Corning — The specialty glass maker rose nearly 4%. A day earlier, Corning raised its second-quarter core sales forecast to $3.6 billion from about $3.4 billion previously. The company also said it expects core earnings per share to be at or slightly above the high end of management’s guidance of 42 cents to 46 cents. — CNBC’s Yun Lee, Pia Xin, Sarah Ming and Darla Mercado contributed to the report.
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