Check out the companies making headlines in midday trading. BlackBerry — BlackBerry shares popped nearly 7% after the company announced a partnership with Advanced Micro Devices on robotics systems. Moderna — The vaccine maker gained 6%. Reuters reported that Moderna’s cancer drug it’s working on with Merck showed promising results in an early stage study in individuals with a certain form of neck and head cancer. Boeing — The airplane maker was down nearly 2% after a New York Times report said regulators were investigating claims from a whistleblower about flaws in the company’s 787 Dreamliner. Alphabet — Alphabet rose 1.1% as Wall Street readied for its Google Cloud Next event keynote. The company also unveiled new custom Arm-based chips. Tilray Brands — Shares plunged nearly 21% after the cannabis firm reported a wider-than-expected quarterly loss. Tilray posted a loss of 12 cents for the latest quarter. Analysts polled by FactSet expected a loss of 5 cents. The company also reported a miss on revenue. American Eagle Outfitters — The retail stock briefly added as much as 4.4% on the back of an upgrade by JPMorgan to overweight from neutral. The bank cited American Eagle Outfitters’ merchandising initiatives and operational changes for the call. Shares were down slightly in midday trading, however. Ally Financial — Shares gained 1.5% following an upgrade to buy from neutral at Bank of America . The bank said Ally Financial may see higher earnings than anticipated and believes Ally’s potential credit leverage may be underestimated. ChargePoint — Shares dropped 4.3% after Goldman Sachs downgraded the EV charging station operator to sell from neutral, saying slower growth in U.S. EV sales and rising competition in EV charging could be headwinds to ChargePoint’s revenue and demand for its services. Molson Coors — The stock advanced 1% after Goldman Sachs upgraded the brewing company to buy, saying Molson Coors can benefit as it claims more shelf…
Read the full article here
