Check out the companies that are trending in intraday trading. EVgo — Shares soared nearly 61% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. JP Morgan also upgraded EVgo to overweight. Analyst Bill Peterson pointed to EVgo’s occupancy rates and owner-operator model compared to its peers. Hims & Hers Health — Shares of the health and wellness platform plunged 9.6% after the U.S. Food and Drug Administration announced that the shortage of Eli Lilly’s popular weight loss drugs Zepbound and Mounjaro has been resolved. Hims & Her Health had previously exploited the shortage to develop compound versions of the drug. Joby Aviation – Share price fell more than 8%, netting gains from the previous session. Joby soared nearly 28% on Wednesday after Toyota announced it would invest $500 million in the company to help certify and produce electric air taxis. Levi Strauss – Shares fell more than 7% after the denim maker cut its full-year earnings outlook and reported third-quarter earnings that were less than expected. Levi’s is also considering selling its underperforming Dockers business. Wolfspeed – Shares fell 5.9% after Mizuho downgraded the semiconductor maker’s rating from neutral to underperform. The company expects global electric vehicle sales to slow over the next two years, citing increased competition in China as another headwind. Nvidia – The chipmaker said it expected “insane” demand for its new Blackwell artificial intelligence chip on CNBC’s “Closing Bell: Overtime” on Wednesday. It rose more than 3%. The CEO also said Blackwell is in “full production” and expects to ship in the fourth quarter. Stellantis – Shares fell about 4%, hitting a 52-week low during trading after Barclays was downgraded from overweight to equal weight. Analyst Henning Kossmann said the company was “too slow to recognize the US inventory problem and the erosion of EU/US market share” and its stock price was “moving in the wrong direction”. said. Palantir Technologies – Software stock rose more than 4%, adding to gains seen in the previous session. Palantir recently announced that it is partnering with Edgescale AI to deliver Live Edge, a platform that leverages artificial intelligence in manufacturing, utilities, and other sectors. Utilities – Power companies are on the decline after Google CEO Sundar Pichai said in an interview with the Nikkei newspaper that the tech giant is considering using power from nuclear power plants for its data centers. Shares of Vistra Inc. and Constellation Energy Inc. rose more than 5% and 4%, respectively. Investors believe that both Vistra and Constellation will be important supporters of data center growth as tech companies develop artificial intelligence technology. — CNBC’s Yun Lee, Lisa Kai-Lai Han and Ha-Kyung Kim contributed reporting.
Hims, Joby, Levi’s etc.
