Stocks making the biggest moves midday: Nvidia, Apple, Alphabet, PepsiCo and more
Let’s take a closer look at the companies that have been hitting the news in today’s midday trading.
— The company’s shares saw a surge of around 3% in the wake of their GTC Conference. Investors are viewing this event as a barometer for the future of artificial intelligence, given Nvidia’s anticipated unveiling of new products and updates.
— The shares retreated by 3%, building on the 13% pullback experienced on Friday. The dip followed a settlement reached by the National Association of Realtors with home sellers which might potentially lower commissions for realtors, putting pressure on the stock.
— The shares of Alphabet, the parent company of Google, rose by nearly 7% after a report in Bloomberg suggested that Apple is in talks about incorporating Alphabet’s Gemini artificial intelligence engine into the iPhone. Consequently, Apple’s shares ascended by about 2%.
— The shares of the software provider based in San Francisco went up by 8% following a Bloomberg News report that revealed the company has been considering a potential sale with the help of a financial advisor.
— The chipmaking company’s shares increased by about 1.4% after a Reuters report announced the company’s contemplation of establishing a packaging facility in Japan. Additionally, Bank of America elevated its price target on the stock, indicating “stronger advanced node demand supported by AI strength, computing power, power and saving requirement.”
— The electric vehicle manufacturer experienced an increase of nearly 5% in its shares after it announced a plan to increase the price of its Model Y by $1,000 starting from April.
— The beverage giant saw its stock rise by nearly 4% following an upgrade to overweight from equal weight by Morgan Stanley. According to Morgan Stanley, PepsiCo’s business fundamentals are set to hit bottom early this year and could potentially rebound in the second half.
— The company’s shares dipped by over 2% after it agreed to pay more than $175 million to Australian taxi drivers as a settlement of a class-action lawsuit. The lawsuit claimed that Uber had been operating illegally in the country before obtaining approval.
