Here’s a look at some of the companies catching our eye in midday trading: SolarEdge Technologies — The company’s shares fell 20.6% after it said it would issue $300 million worth of convertible notes due in 2029. The company also disclosed in a filing with the U.S. Securities and Exchange Commission on Monday that customers would be unable to repay about $11.4 million in debt after filing for bankruptcy. Pool Corp. — Shares plunged 8% after the company updated its full-year profit outlook after the close of trading on Monday. The pool equipment wholesaler now sees full-year earnings of $11.04 to $11.44 per share, lower than its previous outlook of $13.19 to $14.19 per share and below the FactSet consensus estimate of $13.05. Pentair and Leslie’s fell in sympathy after the revisions, dropping 7.1% and 4.8%, respectively. Carnival — Shares rose 8.7% after the cruise company beat expectations on second-quarter profit and revenue. Carnival reported earnings per share of 11 cents, excluding items, on revenue of $5.78 billion, while analysts surveyed by LSEG had expected a loss of 2 cents per share on revenue of $5.68 billion. Carnival also issued upbeat guidance for the third quarter and full year. Sea Limited — U.S. shares of the Singapore-based consumer internet stock fell 2.2% after JPMorgan downgraded it to neutral from overweight. The bank said Sea could be hurt by increased competition. Penn Entertainment — Shares of casino operator and online gambling platform Penn Entertainment fell about 5.6% after Raymond James downgraded it to market perform from outperform. The company said it believes its current valuation is “appropriate” and sees stock upside limited to about $20 per share.Shares have soared more than 14% in a month. Airbus — The company’s shares fell more than 9% in France after the company announced a sharp cut in its 2024 financial targets. Airbus said Monday that it expects revenue to fall this year and fewer commercial aircraft deliveries. Nvidia — The chipmaker’s shares rose about 6.8% after dropping more than 6% the previous day. Monday’s selloff marked its biggest one-day drop since April 19. Enovix — Shares of the advanced silicon battery maker surged about 35% after it agreed to deliver silicon batteries and packs for mixed reality headsets. Enovix will receive a one-time payment for tooling that supports battery pack dimensions, followed by other payments for deliveries of both samples and production quantities. Novo Nordisk — Shares rose more than 3% on news that its weight-loss treatment, Wegovy, has been approved in China for long-term weight management. The drug will initially be offered to patients with a body mass index of 30, the benchmark for obesity, and at least one weight-related comorbidity. Rivian — The electric-vehicle stock rose 8.6% after Guggenheim initiated coverage with a buy recommendation. The investment firm said Rivian’s margins and cash burn appear to be improving. Spirit AeroSystems Holdings — Shares of the Boeing supplier fell about 4% after Bloomberg reported that Boeing would switch its takeover bid from cash to stock. The offer is reportedly for about $35 a share. — CNBC’s Alex Harring, Lisa Kailai Han and Jesse Pound contributed to the report.
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