Stocks making the biggest moves midday: Intel, Nio, Super Micro Computer and more
Check out the companies making headlines in midday trading: Nio — U.S. shares of the Chinese electric vehicle maker popped 3.5% after a JPMorgan upgrade to overweight from neutral. The firm said Nio could be in for a recovery rally after a tough year so far. Super Micro Computer — Shares shed more than 6% after JPMorgan downgraded the artificial intelligence server producer to neutral from overweight, saying there is no reason to buy the stock while uncertainty exists around regaining regulatory compliance. Super Micro said in late August that it would delay the release of its annual 10-K filing. The bank also slashed its price target by $450 to $500. DocuSign — Shares of the software company rose around 4% after fiscal second-quarter results topped expectations, fueled by strong subscription growth. DocuSign reported 97 cents in adjusted earnings per share on $736 million of revenue. Analysts surveyed by LSEG were expecting 80 cents per share and $727 million of revenue. Guidewire Software — The software stock jumped 12.4% thanks to the company’s fiscal fourth-quarter beat. For the period, Guidewire earned 62 cents per share, excluding items, on $291.5 million in revenue, above the 54 cents per share and $283.8 million analysts had expected, per FactSet. The company’s full-year revenue forecast also surpassed expectations. UiPath — The software stock slid 6% amid the tech-led market sell-off Friday. UiPath’s better-than-expected fiscal second-quarter adjusted earnings and revenue were unable to give the stock a boost. The company also expanded its stock repurchase program. Bowlero — The bowling center stock advanced 6.6%. The company posted a revenue beat in the fiscal fourth quarter, reporting $283.9 million. Analysts polled by FactSet were seeking $273.4 million. Intel , Mobileye — Shares of autonomous driving tech company Mobileye slumped 8.5%. Bloomberg, citing people familiar with the matter, reported that chipmaker Intel is weighing options for its stake in Mobileye. Intel shares fell 2.6%. Semiconductor stocks — Chip stocks broadly sold off on Friday, with the VanEck Semiconductor ETF down more than 4%. Nvidia tumbled 4.1%, while KLA Corporation shed 3.5%. Marvell Technology and U.S.-traded shares of ASML Holding lost more than 5% each. — CNBC’s Yun Li, Alex Harring, Jesse Pound, Michelle Fox, Lisa Han and Sean Conlon contributed reporting. This post has been syndicated from a third-party source. View the original article here.
