Prism Stocks making the biggest midday moves : Cava, Nvidia, Deckers, Block, Taiwan Semiconductor and more
Dive into the companies making waves in the midday trading news.
— The footwear company saw its shares drop by 6.9% following a downgrade to hold by Truist. The downgrade was due to concerns about declining demand for core products, accentuated by a decrease in direct-to-consumer Hoka trends in February.
— The Mediterranean food chain experienced a 4.4% uplift in shares following an upgrade to buy from hold by Argus. The firm encouraged investors to seize the opportunity, noting that Cava is on a “long growth runway”. Although shares have seen an overall increase of 44% this year, they have tumbled by 11% this month.
— Shares of this leading “Magnificent Seven” member increased by 1.7% as the company endeavored to recover from a correction phase. The stock currently recurs at 11% below a record high achieved earlier this year.
— Shares of this consumer brand climbed 2.4% as William Blair initiated an outperform rating. The firm’s endorsement was based on Vital Farms’ strong positioning in the rapidly growing U.S. clean label food industry.
— A 2.3% slump in the payment company’s shares was seen, triggered by rising Treasury yields due to higher-than-expected inflation data. This outweighed Mizuho’s revised price target of $106 on its shares.
— The stock declined by 5.1% even after Jefferies named the online housing platform as a top pick. The company’s shares have dipped more than 21% in the past month following the National Association of Realtors’ announcement of a potential decrease in real estate commission rates on March 15. The slide was also influenced by a jump in rates after the recent consumer price index data release.
— The telemedicine company’s stock rose nearly 2% after being upgraded from sector weight to overweight by KeyBanc. The firm highlighted opportunities for GoodRx to exceed earnings expectations and elevate yearly guidance.
— Shares of Delta Air Lines maintained stability, surpassing the wider market performance, subsequent to announcing a profitable first quarter. Delta also reported strong leisure and business bookings in anticipation of the peak travel season. Earnings were higher than analysts’ expectations at 45 cents per share.
— This chemical manufacturing company’s stock depreciated by 1% even though it had been trading higher in the morning session. The initial rise was driven by Bank of America’s upgrade to a buy rating due to skyrocketing lithium prices.
— The e-commerce company’s shares buoyed by 1.2% as co-founder Jack Ma lauded Alibaba’s management and underscored the potential of AI in a recent internal memo to staff.
Taiwan Semiconductor Manufacturing — The company saw a 1.5% increment in shares following its announcement of an impressive 34.4% year-on-year revenue hike in March. This is its quickest growth rate since Nov. 2022, signifying robust demand for its AI-powered chips.
