Check out the companies that are trending in intraday trading. Duolingo — The online language app company said JPMorgan found the company’s first-quarter outlook and 2024 outlook to have attractive risk/reward and upside potential, giving it an overvalued share. The stock jumped 7.5% after reiterating its weight rating. Taiwan Semiconductor Manufacturing Co. — The U.S.-traded stock of the Taiwanese semiconductor manufacturing company said it had to scrap some wafers after an earthquake in Taiwan in early April, although there was no structural damage. The stock fell 3.6% after the company said, Most of the lost production is expected to be recovered in the second quarter, management said. The company still beat first-quarter revenue and profit expectations and projects healthy growth in 2024. JetBlue Airways — Shares rose 6.6% after JPMorgan assessed the airline’s turnaround potential and upgraded it from underperforming to neutral. Bitcoin Miners – Share prices of Bitcoin mining companies rose ahead of the widely anticipated “halving” mandated by the Bitcoin code that would cut miners’ main revenue in half. Marathon Digital rose more than 6%, Riot Platforms rose nearly 5% and Iris Energy rose 8%. CleanSpark, one of the few miners still active this year, is up 13%. Estée Lauder — Deutsche Bank added a short-term buy rating to the cosmetics giant, sending the stock up 4.7%. Tesla is pinning this effort positively on Estée Lauder’s earnings, which are scheduled to be released on May 1st. —The electric car maker fell 2% to a 52-week low after Deutsche Bank analyst Emanuel Rosner downgraded Tesla shares from buy to hold. Rozner pointed to a Reuters report that Tesla has canceled plans to build a cheaper Model 2 vehicle, which risks cutting off new cars from Tesla’s consumer lineup for the foreseeable future and lowering the company’s sales. He said there will continue to be downward pressure on unit sales. Pricing continues for many more years, reducing revenue. Barnes Group — The global industrial technology and aerospace stock rose 9.3% after Attorney Davidson upgraded the company from neutral to buy, calling the stock attractive. Alaska Air Group — The company’s stock rose 5.8% after its first-quarter results beat expectations. Alaska Airlines’ itemized loss per share was 92 cents, below LSEG’s estimate of $1.05 per share. Sales were $2.23 billion, exceeding analysts’ expectations of $2.19 billion. Blackstone — The asset manager fell 2.5% after cutting its dividend from 94 cents a share to 83 cents a share. First-quarter earnings were 98 cents per share, slightly above LSEG’s consensus estimate of 96 cents per share. BJ’s Wholesale Club — Loop Capital downgraded his BJ’s rating, sending the stock down 4.4%. The company has lowered its forecasts for the warehouse store company’s same store sales and gross profit margin. DR Horton — Shares rose 2.3% as DR Horton beat expectations in its fiscal second quarter, posting earnings of $3.52 per share on revenue of $9.11 billion. Meanwhile, analysts surveyed by LSEG expected the homebuilder to post earnings of $3.06 per share on revenue of $8.27 billion. eBay — E-commerce stocks rose 2% after Morgan Stanley upgraded the stock twice from underweight to overweight. The company said eBay appears to be undervalued compared to its peer Etsy. Elevance Health — Shares rose 3.8% after the health insurer posted a profit beat and raised its full-year outlook. However, Elevance’s sales were slightly lower than expected. Zoom Video Communications — Rosenblatt Securities upgraded the video conferencing company’s stock to neutral buy, saying it is optimistic about Zoom’s “refocused” channel strategy and strong balance sheet. The stock rose 2.1% following the new rating. TRUMP MEDIA & TECHNOLOGY GROUP — Shares of former President Donald Trump’s media company and parent company Truth Social rose more than 14%, adding to gains from the previous day. Earlier in the week, the company announced plans to launch a TV streaming division with Truth Social, and shares fell. —CNBC’s Samantha Subin, Brian Evans, Ha-Kyung Kim and Lisa Kai-Lai Han contributed reporting.
Stocks with the biggest moves at midday: DUOL, JBLU, TSLA, DHI
