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Check out the companies that are trending in intraday trading. Cryptocurrency Stocks — Stocks whose performance is tied to the price of Bitcoin rose as the cryptocurrency hit a new record for the third day in a row. Cryptocurrency exchange Coinbase rose about 3%, and Bitcoin agency MicroStrategy soared nearly 10%. In the cryptocurrency mining sector, Marathon Digital, Riot Platforms, and Iris Energy each rose more than 2%. Clean Spark rose about 7%. Texas Roadhouse — The restaurant chain rose nearly 3% on the back of outperforming Baird. The company said the Kentucky-based chain could continue to rise despite being near all-time highs. Morris & Co. — Goldman Sachs upgraded the investment bank from sell to neutral, saying the firm is “benefiting significantly from the onset of a cyclical upswing” following a post-earnings rebound. After that, the stock price rose nearly 4%. Tesla — The stock fell 3.5% after Wells Fargo downgraded the electric car maker’s rating from equal weight to underweight, citing “risk to volume as the impact of price reductions diminishes.” Nvidia, Advanced Micro Devices, Micron Technology — Shares of these chipmakers fell on Wednesday as artificial intelligence-related stock gains continued to slump this week. Nvidia stock fell 3%. Micron fell 3.8% and AMD fell 4.2%. Dollar Tree — The discount retailer’s stock fell more than 13% after a disappointing quarterly report. Dollar Tree had fourth-quarter sales of $8.64 billion and adjusted earnings per share of $2.55. Analysts surveyed by LSEG (formerly Refinitiv) expected earnings of $2.65 per share on revenue of $8.67 billion. The company also announced that it has identified 970 Family Dollar stores as potential closures. Dollar General — The discount retailer fell 3% after competitor Dollar Tree reported weaker-than-expected quarterly results. Dollar General is scheduled to release its own financial results before the start of trading on Thursday. It’s up more than 14% this year. GE Healthcare — Shares fell 3% after the medical technology company announced a secondary offering of 13 million shares. GE Healthcare Technologies was spun off from General Electric in early 2023. Legend Biotechnology — Shares rose 4.6% after Raymond James initiated coverage of this commercial-stage biotech company with an Outperform rating. The company is bullish on Legend Biotech’s multiple myeloma treatment, Karvicti Therapy. Royal Caribbean, Carnival — Shares of both cruise lines slumped after Goldman Sachs initiated coverage on the shares with a buy rating, citing pricing power and pent-up demand for cruise stocks. Rose. Royal Caribbean stock rose about 2%, and Carnival stock rose 3.3%. Petco Health and Wellness — Shares fell 6% after the struggling pet retailer announced a search for a new CEO. The company reported fourth-quarter sales growth on Wednesday, with adjusted earnings of 2 cents per share and revenue of $1.67 billion. Analysts had expected LSEG to report earnings of 2 cents a share and revenue of $1.62 billion. —CNBC’s Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh and Michelle Fox contributed reporting.
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