Nvidia’s shares fell 1.1% after reversing an earlier gain that pushed the stock out of correction territory. Despite this, Nvidia has surged more than 160% since the start of 2024.
General Mills’ consumer products business dropped 3.1%, as investors expect a weaker outlook than previously thought. The company’s adjusted earnings per share are now expected to decline between 3% and 1%.
Jabil’s electronics components stock rose 7.3% after surpassing Wall Street expectations, with core earnings per share reaching $2 on $6.99 billion in revenue.
Heico’s aerospace stock tumbled 8.7% due to weaker-than-expected revenue of $1.01 billion.
Ollie’s Bargain Outlet shed 0.4%, despite rising to a 52-week high after being upgraded at Citi from sell to buy.
Netgear’s shares jumped 4.8% following reports that the US is considering a ban on routers made in China, benefiting the California-based company.
Birkenstock’s shoe maker stock ticked up 2% due to better-than-anticipated earnings and revenue for its fourth fiscal quarter.
Rivian’s electric vehicle stock fell 11.2% after being downgraded from outperform at Baird, with sluggish EV sales ahead.
Disney’s shares dropped 1.5%, despite Morgan Stanley naming the entertainment giant a top pick in 2025, citing substantial streaming profits.
Academy Sports’ sporting goods retailer saw its stock inch up 0.1% following Citi’s initiation of a buy rating, citing a growth runway.
Expedia lost 2.4% after Bank of America upgraded it to buy from neutral, calling it a top value stock tied to the internet.
DoubleVerify shed 0.5%, but Raymond James initiated coverage with an outperform rating, labeling the software company as a market leader.
Rocket Pharmaceuticals’ biotech stock fell 1.5%, but Jefferies initiated coverage with a buy rating, citing a promising pipeline of gene therapies for rare diseases.
Source: https://www.cnbc.com/2024/12/18/stocks-making-the-biggest-moves-midday-nvda-olli-birk-dis-and-more.html