Check out the companies that are trending in intraday trading. Astera Labs – Shares rose more than 16% after the data center connectivity chip company announced a new fabric switch for artificial intelligence. Norwegian Cruise Line – Shares soared 10% after Citi was upgraded to buy from neutral. Citi said it expects strong earnings per share growth, leading to higher earnings and higher margins. Bayer – The life sciences company’s U.S.-listed shares fell about 7%. The Washington State Supreme Court has announced that it will consider a lawsuit against the Monsanto division that claims several people at the Sky Valley Education Center in Washington state were harmed by exposure to products manufactured by the company. Reddit – The social forum’s stock rose nearly 2% after Jefferies began reporting the name with a “buy” rating. Analyst John Colantuoni said high user growth and a narrowing monetization gap could give Reddit an advantage over its competitors, potentially increasing revenue. Arcadium Lithium – The miner’s share price soared nearly 31% after fellow miner Rio Tinto announced it would be acquired for $5.85 per share. Meanwhile, Rio Tinto’s stock price fell slightly on the news. GitLab – The software stock rose more than 7% after Morgan Stanley initiated coverage with an Overweight rating. The company believes GitLab can become the leading integrator in the market as a result of the vast offering it offers in its software delivery pipeline. HELEN, TROY – Household products stocks soared more than 19% after the company’s second-quarter profit beat Wall Street expectations. Helen of Troy reported earnings of $1.21 per share and revenue of $474.2 million, beating analysts’ estimates compiled by FactSet of $1.05 per share and $458.9 million. Chewy – The online pet products retailer saw its stock price rise 3% after TD Cowen initiated a buy rating on the stock. The Wall Street company says Chewy is the leading pure e-commerce product in the $144 billion U.S. pet industry. Boeing – The aerospace giant’s shares fell another 2% on Wednesday as the machinists union’s strike continued. Boeing on Tuesday withdrew its contract offer to the union after negotiations failed to reach an agreement. S&P Global Ratings also issued a negative outlook on the company’s credit rating. Alphabet – The mega-cap tech stock fell nearly 2% after the Justice Department revealed it was considering a possible breakup of Google. This comes after a US judge ruled in August that Google holds a monopoly in search and text advertising. —CNBC’s Alex Harring, Yun Li, Lisa Kailai Han and Jesse Pound contributed reporting.
NCLH, RDDT, CHWY, BA etc.
