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Check out the companies that are trending in intraday trading. Xerox — Xerox stock fell more than 9% after the digital printing company announced plans to cut 15% of its workforce in the first quarter as part of a broader restructuring effort. SoFi Technologies — The financial technology stock fell more than 13% after Keefe, Bruyette & Woods downgraded its rating for below market performance. The company cited SoFi’s recent outperformance, as well as concerns that slowing origination growth and technology revenue would weigh on lenders’ profits. Charles Schwab — Charles Schwab fell nearly 4% after Goldman Sachs downgraded the brokerage to neutral from buy, saying a lower interest rate outlook could weigh on earnings. PGT Innovations — The window and door maker added 3% after announcing an unsolicited takeover offer from Miter Brands that valued the company at $41.50 per share in cash. . This is higher than the $41 per share it previously agreed to with Masonite International. Apple — The iPhone maker’s stock fell nearly 1%, following his more than 3% decline from the previous session. Suncor Energy — Shares of the Canadian-based energy company rose about 5% after the company said fourth-quarter upstream production exceeded Wall Street expectations. The company also said December was its strongest month on record, with upstream production averaging 900,000 barrels per day. AST SpaceMobile — Shares of the space broadband company rose more than 4% after the company announced in January that it was seeking to complete a previously disclosed strategic investment with multiple parties. The company also said it has secured initial orders for ground infrastructure from two customers. Rocket Companies — Financial services stocks fell 9% after several downgrades. Keefe, Bruyette & Woods downgraded Rocket Companies to underperform, citing valuation concerns and expectations for weak mortgage balances. SentinelOne — Share price fell 4%. The cybersecurity company announced that it has agreed to acquire cloud security platform PingSafe. The cash and stock transaction is expected to close in the first quarter of SentinelOne’s fiscal year 2025. Eli Lilly — Pharmaceutical stocks rose more than 3% on him. Bank of America has named Eli Lilly, maker of the weight-loss drug Zepbound, as its top candidate for the new year. The company said it is “well positioned to weather competitive threats.” Enphase Energy, SolarEdge Technologies — Enphase Energy was down nearly 7% on Wednesday, and SolarEdge was down nearly 5% after the yield on the 10-year Treasury rose above 4% at one point. Growth stocks, including solar power generation stocks, are sensitive to rising interest rates, causing their valuations to decline. —CNBC’s Sarah Min, Michelle Fox and Darla Mercado contributed reporting.
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