Several companies were making headlines in midday trading, with Duolingo, the online language app company, seeing a 7.5% increase after JPMorgan reiterated its overweight rating on the stock. Taiwan Semiconductor Manufacturing, however, saw a drop of 3.6% after some wafers had to be scrapped following an earthquake in Taiwan. JetBlue Airways saw shares jump 6.6% after an upgrade from JPMorgan, while bitcoin miners such as Marathon Digital and Riot Platforms rallied ahead of the “halving” event that cut miners’ revenue in half. Estee Lauder also saw a 4.7% increase after a short-term buy rating from Deutsche Bank. Meta Platforms advanced more than 3% after a partnership with Google, while Tesla slid 2% after a downgrade from Deutsche Bank due to canceled plans for a new vehicle in its lineup.
Barnes Group, a global industrial tech and aerospace company, saw a 9.3% jump in its stock after an upgrade from DA Davidson. Alaska Air Group also saw a 5.8% increase on better-than-expected first-quarter results, with a lower loss per share and higher revenue than analysts’ forecasts. Blackstone, however, slipped 2.5% after lowering its dividend, while BJ’s Wholesale Club fell 4.4% due to a downgrade on valuation. D.R. Horton, a homebuilder, added 2.3% after exceeding expectations in its fiscal second quarter. eBay rose 2% following a double upgrade from Morgan Stanley, and Elevance Health saw a 3.8% increase after posting an earnings beat and raising its full-year guidance.
In addition, Zoom Video Communications saw a 2.1% increase after an upgrade from Rosenblatt Securities, which cited optimism in the company’s “refocused” channel strategy and healthy balance sheet. Trump Media & Technology Group, the parent company of Truth Social, climbed more than 14% in trading. Despite earlier declines after announcing plans to launch a TV streaming arm of Truth Social, the stock rebounded. Overall, various companies experienced both gains and losses in midday trading, reflecting the volatility of the market and investor sentiment towards specific industries and events such as earnings reports and partnerships.
Duolingo gained 7.5% after JPMorgan reiterated its overweight rating and positive outlook for the language app company. Meanwhile, Taiwan Semiconductor Manufacturing dropped 3.6% due to production issues caused by an earthquake. JetBlue Airways saw a 6.6% jump after an upgrade, while bitcoin miners rose ahead of the “halving” event. Estee Lauder also saw a positive 4.7% increase after a buy rating from Deutsche Bank. Meta Platforms advanced 3% after a partnership with Google, but Tesla slid 2% after a downgrade due to canceled plans for a new vehicle.
Barnes Group and Alaska Air Group both saw stock increases of 9.3% and 5.8%, respectively, following positive results and ratings. Blackstone and BJ’s Wholesale Club, however, experienced declines in their stock prices. D.R. Horton exceeded expectations, leading to a 2.3% increase in its shares. eBay rose 2% following an upgrade, while Elevance Health jumped 3.8% after posting an earnings beat and raising guidance. Zoom Video Communications also saw a 2.1% increase after an upgrade, and Trump Media & Technology Group climbed more than 14% following earlier fluctuations. Overall, the midday trading session reflected varying movements in the market, influenced by company-specific news and events.
