TEVA, PFE, AVGO and more
Check out the companies making headlines in midday trading: Teva Pharmaceuticals , Sanofi — Shares of Teva Pharmaceuticals and Sanofi rose more than 23% and 6%, respectively, after the companies announced positive Phase 2b results for duvakitug, their joint treatment of moderate to severe inflammatory bowel disease. Pfizer — Shares traded around 4% higher on the heels of the biopharmaceutical company’s 2025 outlook arriving in line with Wall Street expectations . Pfizer expects revenue to come in between $61 billion and $64 billion next year, on par with the consensus estimate of $63.22 billion, according to FactSet. Quantum Computing — The stock soared more than 38%, hitting a new 52-week high, after NASA’s Goddard Space Flight Center awarded the company a prime contract to support the agency’s demands for advanced imaging and data processing by using Quantum’s entropy quantum optimization machine known as Dirac-3. SolarEdge Technologies — The stock popped 21% following Goldman Sachs’ double upgrade to buy from sell . The bank said 2025 will be a key inflection point in the clean energy company’s major turnaround story. Red Cat — The drone tech company tumbled 12% after reporting a fiscal second-quarter loss of 18 cents per share, worse than the loss of 11 cents per share from the same period a year ago. Shares of Red Cat are now up about 17% over the past week, spiking after mysterious drone sightings in New Jersey boosted optimism that Wall Street could funnel more funding into the industry. Nvidia , Broadcom — Shares of Nvidia and Broadcom fell more than 1% and nearly 5%, respectively, following the chip stocks’ move in opposite directions in prior sessions. On Monday, Nvidia fell into correction territory . Meanwhile, Broadcom posted better-than-expected fourth-quarter earnings on Thursday, boosting the stock above $1 trillion in market cap Friday. It has surged more than 39% over the past week. Tesla — The electric vehicle stock climbed 1% following Mizuho’s upgrade to outperform from neutral. The firm said it expects Tesla to be a beneficiary of President-elect Donald Trump’s anticipated regulatory changes, such as those pertaining to autonomous driving. Manchester United — The stock moved nearly 2% higher after UBS initiated coverage with a buy rating . The firm thinks the U.K.-based professional football club’s “superior” revenue base could eventually lead the team to improved sporting performance and net profitability. Epam Systems , Cognizant Technology Solutions — The IT services stocks advanced 2% and roughly 1%, respectively, on the heels of upgrades to overweight from equal weight by Barclays. The British bank said these companies made investments that can help them win demand as it returns to the sector. Affirm Holdings — Shares fell more than 3% after the buy now, pay later company announced a private offering of $750 million of convertible senior notes . Affirm also said it expects to repurchase up to $300 million of its Class A common stock. Amentum Holdings — The engineering company and government contractor slid 12% after posting quarterly results. Amentum reported a pro forma loss of 21 cents per share in its fiscal fourth quarter, compared to earnings of 17 cents per share in the year-ago period. — CNBC’s Alex Harring, Lisa Kailai Han, Pia Singh and Michelle Fox contributed reporting.
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