Stocks making the biggest moves midday: Novo Nordisk, Mission Produce, Occidental Petroleum and more
Check out the companies making headlines in midday trading: JPMorgan , Bank of America , Wells Fargo — The three U.S. banks that dominate transactions on the Zelle payments network all rose around 2% despite a Friday lawsuit from the Consumer Financial Protection Bureau over Zelle payment fraud. Crypto-linked stocks — Shares of MicroStrategy , Coinbase and Robinhood respectively added 12%, 2% and 4%. The stocks had declined in early Friday trading in tandem with bitcoin prices falling from their highs . Novo Nordisk — The stock slid 18% on the heels of the Danish pharmaceutical giant’s experimental CagriSema weight loss drug posting weaker-than-expected late-stage trial results . Shares of rival obesity drug maker Eli Lilly jumped 1% following the disappointing results, while Dexcom , maker of diabetes management devices, added nearly 6%. Mission Produce — The avocado producer surged 17% after its fiscal fourth-quarter results topped Wall Street’s estimates. U.S. Steel — The steel producer lost 5% after issuing fourth-quarter guidance that was weaker than expected. U.S. Steel expects a loss of between 25 cents and 29 cents per share for its current quarter, while analysts had estimated a per-share profit of 22 cents, according to FactSet. Occidental Petroleum , Sirius XM — Shares of the Houston-based energy producer jumped nearly 4%, while radio station operator Sirius XM popped 12%. A regulatory filing showed Warren Buffett’s Berkshire Hathaway added to its stakes in these companies after purchases during the past three sessions. Berkshire also hiked its bet on internet stock Verisign , prompting the tech name to jump 3%. Trump Media & Technology Group — The stock slipped 2% after President-elect Donald Trump transferred his entire stake of shares to a revocable trust this week, regulatory filings showed. The stock was also weighed down by a failure on Thursday night of a House Republican spending deal endorsed by Trump to avert a government shutdown. FedEx — Shares edged fractionally lower after the shipping company said it would spin off its freight business . Separately, fiscal second-quarter adjusted earnings of $4.05 per share topped LSEG consensus estimates of $3.90 a share. However, revenue fell short of expectations. Carnival — The cruise line operator jumped more than 6%. Carnival says it sees strong demand in 2025 and 2026. Fiscal fourth-quarter results also topped the Street’s estimates, as Carnival reported adjusted earnings of 14 cents per share on $5.94 billion in revenue, while analysts polled by LSEG sought 8 cents per share in earnings and revenue of $5.93 billion. — CNBC’s Sean Conlon, Michelle Fox, Alex Harring and Yun Li contributed reporting. This post has been syndicated from a third-party source. View the original article here.
