Stocks making the biggest moves midday: Nvidia, Travelers, Blackstone, Uber and more

Here’s a look at the major happenings amongst the businesses midday:

Taiwan Semiconductor — Their shares skyrocketed 12% after reporting a substantial 54% increase in net profit for the third quarter. This surge was driven by an increased demand for advanced chips, sending the stocks of Nvidia and Micron up by about 3% each.

Nvidia — This AI front-runner saw a nearly 3% increase in share value after reaching an all-time high during trading. It’s worth noting that they are heavily supplied by Taiwan Semiconductor, which has seen significant gains on its earnings report.

Expedia, Uber — Post a Financial Times report indicating that Uber was contemplating a takeover bid for Expedia, their shares moved in opposite directions. Expedia’s stock rose over 3%, while Uber’s dropped more than 2%.

Elevance Health — Despite “unprecedented challenges” in the Medicaid business, the health insurance company reported revenues of $44.72 billion, exceeding the estimated $43.37 billion. However, the shares plummeted 12% as the profit of $8.37 per share fell short of the expected $9.66.

Travelers — Shares spiked 7.6% after the insurance company’s earnings beat forecasts, although their revenue fell short of estimates.

Lucid Group — The electric vehicle manufacturer announced a public offering of nearly 262.5 million shares, causing its stock to plunge 15%.

Blackstone — Their shares surged nearly 7% following a positive financial report. Earnings were $1.01 per share, beating the expected 92 cents.

CSX — Disappointing third-quarter results led to a 5.9% drop in the transportation company’s shares.

Nokia — The U.S. listed shares of this telecommunications giant fell 3% following an 8% drop in third-quarter sales.

Alcoa — The aluminum producer’s shares declined over 3% after its third-quarter revenue came up short, but its adjusted earnings surpassed expectations.

Equifax — Lower than expected guidance resulted in shares sinking by 2.6%.

Steel Dynamics — The steel producer’s shares rose almost 5% after it beat earnings and revenue expectations for the third quarter.

Synovus Financial — Shares jumped 5% after the company exceeded estimated adjusted earnings per share for the third quarter.

Walgreens Boots Alliance — The stock fell about 5%, but this comes after a 15.8% increase in the previous session. The company plans to close approximately 1,200 stores within the next three years.