Stocks making the biggest moves midday: Trump Media, Salesforce, Tesla, AMC Entertainment and more
Check out the companies making headlines in midday trading. Chinese autos — Chinese auto stocks retreated after BYD said it would lower prices on 22 electric and plug-in hybrid models until the end of June, igniting fears of a fresh price war in the Chinese market. U.S.-traded shares of Li Auto and Nio respectively slipped 2% and 4%. AMC Entertainment — The movie theater chain saw shares skyrocket more than 22% after it set a Memorial Day weekend record for revenues on the strength of live-action Lilo & Stitch and Mission: Impossible – The Final Reckoning. Trading volume was extremely heavy during Tuesday's session, more than twice its 30-day average volume of 8.6 million shares as of midday. Newmont — Shares of the gold miner slipped 1% as news of President Donald Trump's delayed tariffs on the European Union dragged down the price of spot gold. The precious metal, seen as a safe-haven asset, was last down more than 1%. V.F. Corporation — Shares surged 12% after the apparel company — which owns brands such as Timberland, The North Face and JanSport — disclosed that president and CEO Bracken Darrell had bought about 85,800 shares . COO Abhishek Dalmia also disclosed buying 50,000 shares . Wingstop — Shares climbed 4% following an upgrade to buy from hold at Truist. Analyst Jake Bartlett noted that customer spending at Wingstop appears to be improving. Nvidia — The graphics processing unit manufacturer added 3% after Reuters reported that Nvidia will be launching a cheaper Blackwell chip exclusively for China. The company plans to start mass production as early as June, Reuters said, citing sources familiar with the matter. LifeStance Health — Shares climbed nearly 8% after UBS upgraded the outpatient behavioral health services provider to a buy rating from neutral. Analyst Kevin Caliendo said that investors may be undervaluing the stock compared to the company's potential performance. Cummins — The industrial components manufacturer added almost 3% following an upgrade to buy from neutral at Goldman Sachs. Analyst Jerry Revich cited strong demand for Cummins' power generation products as a catalyst. Tesla — The electric vehicle maker added 6% after Elon Musk reiterated his intention to redirect his focus back to his companies in a Saturday post on X . The billionaire wrote that he needs to be "super focused" on X, artificial intelligence company xAI and Tesla as they go forward with launching "critical technologies." CoreWeave — The AI infrastructure provider surged 14% despite receiving its first Wall Street downgrade following its post-IPO rally. Barclays downgraded shares to equal weight from overweight, citing that upside appears limited in the short term. Informatica , Salesforce — Informatica's stock popped nearly 6% after the cloud data management company said it was being acquired by Salesforce in a deal valued at $8 billion. Informatica's shareholders will receive $25 in cash per share, a roughly 11% premium to Friday's closing price. Salesforce's stock added more than 1%. PDD Holdings — The U.S.-listed shares of PDD Holdings plunged more than 15% after the Chinese online retailer posted disappointing first-quarter earnings results. The parent company of Temu posted revenue of 95.67 billion yuan ($13.28 billion) that fell short of the FactSet consensus estimate of 103.13 billion yuan ($14.32 billion). Trump Media & Technology — Shares of the social media and tech company fell more than 8% after Trump Media announced that it was raising $2.5 billion in capital to buy bitcoin. SoundHound AI — Shares of the voice AI platform popped 12% after Piper Sandler initiated coverage of SoundHound AI with an overweight rating. The firm highlighted several ways SoundHound can expand its growth runway, including further integrating its conversational AI technology into auto. Champion Homes — Shares dropped more than 16% after the maker of modular homes reported fourth-quarter that missed estimates on the top and bottom lines, while separately announcing it has agreed to acquire manufactured home maker Iseman Homes. Champion Homes posted adjusted earnings of 65 cents per share on revenue of $593.9 million. Analysts polled by FactSet expected earnings of 76 cents per share on revenue of $595.4 million. — CNBC's Michelle Fox, Yun Li, Sarah Min, Jesse Pound and Pia Singh contributed reporting.
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