Midday Stock Market Highlights

In today’s dynamic midday trading session, several companies have made significant moves in the stock market. Here’s a roundup of the most noteworthy developments:

Prominent Gainers

• Tesla (TSLA)

  The electric vehicle manufacturer saw its stock surge nearly 12%, marking a significant turnaround after experiencing nine consecutive weeks of declines—its longest streak of losses to date.

• AZEK

  A rally of 17.3% followed the announcement of an acquisition by James Hardie Industries, which is set to purchase the outdoor product company for approximately $9 billion in cash and stock.

• Visa

  Visa’s stock climbed 2.5% after news emerged that Coinbase is in discussions with the credit card giant regarding a stablecoin wallet, likely involving World Network, a crypto firm led by OpenAI CEO Sam Altman.

• Pinterest

  Shares of Pinterest increased by 5% following an upgrade from Guggenheim, with analyst Michael Morris highlighting a more favorable investment environment and projected growth in user monetization.

• ViaSat

  This satellite communication company’s stock jumped approximately 14.4% after receiving an upgrade from Deutsche Bank, which suggested multiple factors could enhance the company’s equity value.

• FedEx

  FedEx shares rose over 5% after Jefferies upgraded the company from hold to buy, citing underlying improvements in cost management despite broader market challenges.

• Generac

  Following reinstatement of coverage at a buy by Bank of America, Generac advanced more than 4%, benefiting from increasing demand for backup power systems due to heightened natural disasters and an aging population’s needs.

• Steel Dynamics and Nucor

  Both companies saw their stocks rise—over 3% for Steel Dynamics and over 4% for Nucor—after UBS upgraded their ratings, citing strong tariff protections that favor U.S. steel and aluminum pricing.

• Boeing

  Boeing’s shares increased by about 1.5%, bolstered by an upgrade to buy from Melius, which pointed to the company’s operational capabilities and recent success in securing a contract with the U.S. Air Force.

Noteworthy Declines

• 23andMe

  This DNA testing company experienced a dramatic decline of over 59% following its filing for Chapter 11 bankruptcy protection. Co-founder Anne Wojcicki has stepped down as CEO effective immediately.

• Lockheed Martin

  The defense contractor’s stock fell by just over 1%, continuing its downturn after losing a crucial U.S. Air Force fighter jet contract to Boeing. Bank of America has also downgraded its outlook for the company.

• Super Micro Computer

  Shares dipped 1% following a downgrade from Goldman Sachs, which expressed concerns regarding the company’s valuation, competitive pressures, and profit margins.