NVIDIA President and CEO Jen-Hsun Huang
Robert Galbraith | Reuters
Check out the companies that make headlines in midday trading.
KB Homepage – Shares of the homebuilder fell 5% in midday trading after missing the top and bottom lines of quarterly results. KB Home reported earnings of $1.47 per share on revenue of about $1.40 billion. Wall Street expects earnings of $1.56 per share on revenue of $1.50 billion, according to Refinitiv.
Nikola Shares of the electric vehicle company rose 3.6%. Company started producing battery-electric version of the Tre semitruck at its Coolidge, Arizona factory.
Nvidia, Intel – Shares of the two companies appeared in midday trading after reports that Nvidia may consider sourcing computer chips from Intel, according to for Bloomberg. In addition, Intel CEO Pat Gelsinger has pushed government officials in the US to support legislation to support semiconductor manufacturing. Nvidia’s stock price was up 8.4% and Intel’s was up 5.4%.
GameStop – Shares of the video game retailer fell 5% after a 7-day winning streak. Shares rallied 14% on Wednesday after Chairman Ryan Cohen bought another 100,000 shares and raised its stake to 11.9%.
Steelcase – Shares of the office furniture maker fell more than 7% in midday trading. The company reported an unexpected loss for its most recent quarter, even as revenue beat expectations. Steelcase cited supply chain issues and inflationary pressures.
Logitech – Computer peripherals maker shares rose 6.4% after Bank of America start reporting on the company with buy rating. Though the stock is down about 13% this year, the Logitech analyst said it’s “too cheap to ignore.”
NetApp The cloud computing company’s stock price fell 2.2% in midday trading. Bank of America analysts on Thursday downgrading the company to be neutral to buy, say NetApp has limited increase from here.
Uber – Shares of the car-sharing company increased by nearly 4% following the news that they had reached an agreement New York City taxi features on its application. Through the agreement, Uber will partner with taxi-hailing apps Curb and Creative Mobile Technologies.
Cleveland-Cliffs The company’s shares rose nearly 10% in midday trading as a global steel shortage spurred interest in the producer.
Liberty Global – Shares of the European telecom company rose 1.7% after Credit Suisse stock upgrade superior to neutral. The company said in a note that “dynamics are changing” for Liberty.
– Margaret Fitzgerald, Yun Li, Tanaya Macheel, Jesse Pound, and CNBC’s Samantha Subin contributed reporting.
