Companies Making Headlines in Midday Trading
U.S. Steel shares dropped 8% after President-elect Donald Trump announced plans to stop Japan’s Nippon Steel from buying the Pittsburgh steelmaker.
AT&T shares jumped 4% after forecasting over $18 billion in free cash flow in 2027 and setting a three-year strategy, including plans to double its fiber internet availability and enhance its 5G network.
Upstart Holdings shares surged 8% following an upgrade to buy by Redburn Atlantic, which predicted the company’s “worst is behind it and the best is yet to come.”
Credo Technology Group’s shares soared 47% after reporting strong fiscal second-quarter earnings and issuing higher current-quarter revenue guidance.
Zscaler shares fell 4.7% after posting in-line guidance for its fiscal second-quarter revenue, which disappointed investors.
PSQ Holdings shares surged more than 270% after announcing that Donald Trump Jr. joined its board of directors.
Cleanspark shares fell 4% on weaker-than-expected revenue for fiscal year 2024.
Tesla shares slipped 1.6% after a Delaware judge blocked the reinstatement of CEO Elon Musk’s $56 billion pay package.
South Korean stocks, including the iShares MSCI South Korea ETF (EWY) and the Franklin FTSE South Korea ETF (FLKR), slumped after South Korea’s president declared martial law, but pared some losses after the parliament voted to lift the declaration.
FedEx shares fell 4.7% after being downgraded by Bernstein to market perform from outperform, citing uncertainty over meeting high expectations for the potential spin-off of its less-than-truckload business.
Ollie’s Bargain Outlet Holdings shares fell 2.6% after being downgraded to equal weight from overweight at Wells Fargo, with the bank stating that “the best time to own OLLI may have passed.”