Stocks making the biggest moves midday: Meta Platforms, Duolingo, Target, Dayforce, TeraWulf and more
Check out some of the companies making the biggest moves midday: Meta Platforms — The parent of Instagram and Facebook is planning the fourth overhaul of its artificial intelligence operations in six months , The Information reported late Friday, according to Reuters. Meta fell nearly 3% Monday. TeraWulf — The bitcoin miner and AI computing provider jumped 13% after Google hiked its stake in order to fund an expansion of TeraWulf’s Lake Mariner, New York, facility . As part of the deal, Google will offer up to $1.4 billion in an additional backstop, bringing its total to about $3.2 billion. Duolingo — The language education company popped 12% following an upgrade to overweight at KeyBanc Capital Markets, which cited new products and viral marketing efforts as potential catalysts. Citigroup also initiated research coverage of Duolingo with a buy rating. GoodRx Holdings — The digital health-care platform soared 36% after saying it was collaborating with Novo Nordisk to provide anti-obesity drugs Ozempic and Wegovy to eligible self-paying patients for $499 per month, effective today. Novo Nordisk, which rallied 5%, also won U.S. Food and Drug Administration approval for the use of Wegovy to treat a serious liver disease. Dayforce — The human resources software provider surged 27% after people familiar with the matter told Bloomberg that Thoma Bravo is in talks to buy Dayforce in coming weeks. Target — Evercore ISI added Target to its tactical outperform list, driving up shares in the big-box retailer by 3%. The Wall Street firm said Target’s earnings report later this week could be better than expected, resulting in a “relief rally” in the stock. Epam Systems — The digital engineering software company rose 5% on the back of an upgrade to buy from hold at TD Cowen, which said it sees growth recovering. Antero Resources — The natural gas provider dropped 6% after a downgrade to neutral from buy at Roth, which said there’s a threat of oversupply in the gas market that’s likely to create challenges throughout the sector. CVS Health — The health-care provider and pharmacy chain added more than 2% following an upgrade to buy from neutral at UBS, which said CVS has numerous pathways to “multiple years of [double-digit] earnings growth ahead.” ServiceTitan — The residential and commercial building software provider climbed 4% after Loop Capital upgraded ServiceTitan to buy from hold and raised its 12-month price target to $140 from $100, StreetAccount said. Sunrun — The solar panel company gained 4%. RBC Capital Markets upgraded Sunrun to outperform , with the analyst noting that recent guidance from the Treasury Department describing how renewable projects might qualify for tax benefits under the latest Congressional tax bill could serve as a potential catalyst. Soho House — A group of investors led by MCR Hotels set plans to take Soho House private in a deal valued at around $2.7 billion, and set to close by year-end. Soho shares climbed 16%. Nextracker — The solar tracking technology company rose more than 4% after Guggenheim raised its rating to buy from neutral, saying an Internal Revenue Service ruling last week helps suppliers such as Nextracker. Guggenheim’s $74 price target implies more than 22% upside from Friday’s close. — CNBC’s Lisa Han, Yun Li, Alex Harring, Michelle Fox, Sean Conlon and Sarah Min contributed reporting. This post has been syndicated from a third-party source. View the original article here.
