Check out the companies that are trending in intraday trading. GameStop — GameStop fell nearly 15% after the video game retailer reported fourth-quarter revenue was down from a year ago. The company also said it had laid off an unspecified number of positions to cut costs. Merck — Merck soared 4% on Tuesday after the U.S. Food and Drug Administration approved a drug to treat a life-threatening lung disease. Carnival — Shares fell 2% after the cruise company reported first-quarter revenue of $5.41 billion, but beat analysts’ estimates of $5.43 billion compiled by LSEG (formerly Refinitiv). It went below. However, Carnival reported an adjusted loss of 14 cents per share, which was higher than the 18 cent loss that analysts had expected. The full-year outlook was in line with expectations. Cintas — Shares rose 10% after the company reported better-than-expected third-quarter results. Gross profit margin also increased by 14.9% compared to the same period last year. Cintas has raised its full-year profit and revenue forecasts. Reddit — Social media stocks fell 13%. Reddit stock rose 9% on Tuesday, further accelerating its post-IPO rally after listing on the New York Stock Exchange last week. Marvell Technology — Marvell Technology rose 5% after Citi initiated a positive Catalyst Watch on semiconductor stocks, crediting its purchases of semiconductor stocks ahead of an artificial intelligence presentation. Robinhood — After the announcement of the new product, the stock of the brokerage firm rose more than 2% of his. The biggest new addition is the Robinhood Gold Card. This is a credit card with generous cash back rewards that can be credited to customers’ brokerage accounts. Deutsche Bank — Shares soared 3.4% on the back of Morgan Stanley’s upgrade to overweight. Morgan Stanley said the German bank could build on the impressive gains already seen this year. General Electric — General Electric added 3% after Wells Fargo reiterated its overweight rating on the stock and raised its price target to $200. Wells Fargo cited cost savings as a potential benefit to its stock price. Concentrix — Shares rose 5% after the customer experience technology platform reported better-than-expected first-quarter earnings and reaffirmed its guidance for the year ending November. Concentrix had first-quarter revenue of $2.4 billion, beating the FactSet consensus estimate of $2.38 billion. Coinbase — Shares fell more than 2% after a judge ruled that the U.S. Securities and Exchange Commission’s argument that Coinbase operates as an exchange could be heard by a jury at trial. The SEC sued Coinbase over this in June. The company later moved to dismiss the suit. Moderna — The drug stock rose 1.5% after the company announced it would move three vaccines into late-stage trials. TRUMP MEDIA & TECHNOLOGY GROUP — Shares of former President Donald Trump’s social media company and parent company Truth Social soared more than 16%, fueling a huge rally from its debut on the DJT ticker on Tuesday. nCino — Cloud shares soar his 17% after fourth-quarter profits beat expectations. The company also reported a 13% year-over-year increase in sales. —CNBC’s Alex Harring, Hakyung Kim, Michelle Fox, Tanaya Macheel, Jesse Pound, Brian Evans and Sarah Min contributed reporting.
GME, MRK, CCL etc.
