Umair
Check out the companies making headlines in midday trading: CoreWeave — Shares of the cloud provider tumbled more than 9% in its second trading session since going public. CoreWeave, which rents out access to Nvidia graphics processing units to other large tech companies, suffered a disappointing debut last week. Nvidia also saw its shares drop more than 4% on Monday. Canada Goose — The Canadian outerwear firm saw shares sliding more than 6% to hit a new 52-week low after Barclays downgraded the stock to underweight from equal weight. The Wall Street firm cited global macro pressure, increasing competition and the potential effect of tariff exposure as reasons for the downgrade. Moderna — The biotechnology company tumbled 8% following the resignation of the U.S. Food and Drug Administration’s top vaccine regulator Peter Marks. His departure, which he said was based on “misinformation and lies” around immunization , has caused concerns over whether the Trump administration will swiftly approve and promote critical vaccines. Celsius Holdings — The energy drink maker popped nearly 8% on the back of Truist’s upgrade to buy from hold. Truist said the market is already looking past challenges in 2024 and the first quarter of 2025 and instead focused on advantages from its Alani Nu acquisition. Truist said that brand can position the company well with women in the U.S. energy drink category. Tesla — The electric vehicle maker’s stock pulled back more than 2% on the heels of Stifel trimming its price target on the name, pointing to a slower-than-expected rollout of Tesla’s new Model Y and recent protests as adding near-term pressure to sales. Shares have lagged the broader market this year with a year-to-date loss of more than 36%. Crypto stocks — Bitcoin-related stocks tumbled as the flagship cryptocurrency’s prices ticked lower over the weekend. Exchange companies Coinbase and Robinhood fell 1.6% and roughly 1%, respectively. Crypto miner Mara Holdings lost 6%. Palantir Technologies — Shares of the defense technology stock slipped around 2%, putting it on track for its fifth straight losing session. Palantir’s shares fell more than 5% last week. Hut 8 — The bitcoin mining stock jumped about 1% after announcing the launch of American Bitcoin Corp. The new mining company was formed by a merger between Hut 8 and American Data Centers, a company formed by a group of investors that include Eric Trump and Donald Trump Jr. American Bitcoin, in which the Trumps retain a 20% stake, will focus on industrial-scale bitcoin mining and strategic bitcoin reserve development. United Airlines — The airline operator sold off more than 2% Monday, putting the stock on track for its worst month since March 2020. Month to date, shares have fallen 27%. Peers American Airlines and Delta Air Lines are similarly down nearly 30% each for the month. Mr. Cooper Group — The mortgage services lender climbed 15% after fintech platform Rocket Companies announced a definitive agreement to acquire Cooper Group in an all-stock transaction valued at $9.4 billion. The transaction is expected to close in the fourth quarter of 2025. Shares of Rocket Companies traded about 9% lower. — CNBC’s Sean Conlon, Yun Li, Alex Harring, Michelle Fox and Lisa Han contributed reporting
