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Check out the companies making headlines in midday trading.
Shutterstock — Shutterstock shares rose 10% after the photo, video and music provider announced an expanded six-year partnership with ChatGPT maker OpenAI.
newell brand — Shares of the consumer goods company rose more than 10% after Canaccord issued its initial buy rating. The Wall Street firm said better days are ahead with new management at the helm, and it expects modest revenue growth, improved profitability and cash flow, and lower corporate leverage.
Zilo — Zillow shares rose nearly 11% after Piper Sandler upgraded the real estate stock to an overweight rating, saying new initiatives and improvements in the housing market could help drive shares up more than 30%.
sales force — Shares rose more than 2 percent after the software company announced it would raise prices on its cloud-based products starting in August.
WD-40 — WD-40 shares rose more than 15% on strong fiscal third-quarter results. The company said total net sales rose 15% from a year earlier and issued better-than-expected guidance.
3M — 3M shares rose 3.5% as Bank of America upgraded from underperform to hold. A lawsuit settlement, a restructuring and a planned spin-off of the healthcare business could all help the stock, the company said.
amazon — The stock rose about 1% as the e-commerce giant kicked off its two-day Prime Day summer sale. Wells Fargo also named Amazon a top pick, citing better expectations for Amazon Web Services, Prime Day revenue growth, and positive risk/reward to earnings.
JetBlue Airways — Shares of the airline fell nearly 2% after Evercore ISI downgraded the stock to underweight, citing valuation concerns and recent negative catalysts, including a ruling to end its alliance with American Airlines in the Northeast.
Xpeng — Shares of U.S.-listed Xpeng Motors rose 3% after Goldman Sachs gave the Chinese electric car company a “buy” rating, citing a “convincing” model to drive revenue and profit expansion. Goldman Sachs also expects Xpeng to benefit from continued declines in battery prices.
JPMorgan — Jefferies rose 1.3% after it upgraded its stock to buy from hold, citing a solid earnings outlook and potential for “best-in-class” returns on equity.
Novo Nordisk — Shares in Novo Nordisk, which makes weight-loss drug Wegovy, fell about 3% after a Reuters study by a pharmacy benefits manager showed most patients stop using the drug within a year.
scotts miracle gro — Shares of Scotts Miracle-Gro rose 7% after Truist upgraded the stock to buy from hold. The maker of consumer lawn and garden products is on track to return to in-season outperformance with low debt risk, the bank said.
General Motors — Generac shares rose 4.5% after Argus Research upgraded the generator maker to a buy rating, citing the company’s recent cost-cutting initiatives and better-than-expected growth in the company’s commercial and industrial divisions.
us bank — The stock rose more than 3% after Bank of America upgraded its rating to “buy” from “neutral,” saying earnings and strong execution should drive outperformance.
Iovance Biotherapeutics — Biotech shares fall more than 11% announced pricing Underwrote $150 million public offering of common stock.
— CNBC’s Alex Harring, Michelle Fox, Sarah Min and Yun Li contributed reporting.
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