Nvidia, Logitech, Nikola, Uber and more
Jen-Hsun Huang is the CEO of NVIDIA.
Robert Galbraith | Reuters
These are the headline-grabbing companies in midday trading.
KB Home — Shares of the homebuilder ticked 5% lower in midday trading after missing on the top and bottom lines of its quarterly results. KB Home posted earnings of $1.47 per sen on revenues of approximately $1.40billion. Refinitiv estimates Wall Street earnings to be $1.56 for $1.50billion in revenue.
Nvidia, Intel — Shares for the two companies popped in midday trading after reports that Nvidia may consider sourcing computer chips from Intel, accordingBloomberg. Intel CEO Pat Gelsinger also pushed for legislation in America to aid the production of semiconductors. Nvidia shares rose 8.4% while Intel’s stock prices rose 5.4%.
GameStop — Shares of the video game retailer retreated 5% following a seven-day winning streak. After Chair Ryan Cohen’s announcement, the stock surged 14% bought 100,000 more sharesHe increased his share to 11.9%.
Steelcase — Shares of the office furniture maker tumbled more than 7% in midday trading. Even though revenue was higher than expected, the company suffered an unexpected loss during its last quarter. Steelcase blamed supply chain problems and inflationary pressures.
Logitech — Shares of the computer peripherals manufacturer jumped 6.4% after Bank of America initiated coverage of the companyThe stock has a buy rating. Logitech has a buy rating. Although the stock’s share price is currently down by 13%, Logitech analyst says it’s too inexpensive to ignore.
Uber — Shares of the ride-sharing company jumped close to 4% on news that it reached a deal to feature New York City taxisOn its app. Uber has partnered with Curb and Creative Mobile Technologies to make this deal.
Cleveland-Cliffs — Shares for the firm soared nearly 10% in midday trading as global shortages in steel spurred interest in the manufacturer.
Liberty Global — Shares of the European telecommunications company rose 1.7% after Credit Suisse upgraded the stockOutperforms neutral. In a note, the firm stated that Liberty was experiencing “momentum”.
— CNBC’s Margaret Fitzgerald, Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting