Check out the companies making headlines in midday trading.
Bed Bath & Beyond, AMC — Shares rose 41% and 13%, respectively, as social media traders appeared to invest in the two meme stocks without an apparent catalyst.
Signify Health — The stock jumped 13% after a Wall Street Journal report, citing people familiar with the matter, that CVS Health is planning a bid for the home health services company.
First Solar — First Solar jumped 5% after Goldman Sachs upgraded shares to overweight from neutral. The bank said the solar technology stock should benefit from the passage of deflationary legislation and raised its price target to $126 from $83.
Rhythm Pharmaceuticals — The biopharma’s stock rose 7% after Goldman Sachs upgraded it to buy from neutral, saying shares could rise nearly 40% after successful trials of its obesity drug.
Barrick Gold — The miner jumped 5% after second-quarter results beat analysts’ expectations due to higher copper production.
Palantir Technologies — Shares of Palantir fell more than 13% after the software company known for working with the government reported a loss of 1 cent per share in its most recent quarter. Analysts had expected earnings of 3 cents per share, according to Refinitiv. CFO David Glazer told CNBC the company’s misses were due to a decline in investments and marketable securities.
Tyson Foods – Shares of the food products company fell 8% after Tyson missed earnings estimates for its fiscal third quarter. Company executives said in an investor call that supply chain issues were hurting its ability to fulfill customer orders, according to a transcript of the call by FactSet.
Nvidia — The semiconductor stock fell more than 8% after Nvidia reported a revenue loss in its second-quarter results. The chipmaker posted revenue of $6.7 billion, compared with analysts’ expectations of $8.1 billion, citing gaming weakness.
BioNTech — The German biotech company, which has partnered with Pfizer on its Covid-19 vaccine, fell 9% after reporting earnings and revenue that missed expectations. The company said its variant-adapted Covid-19 vaccine will boost demand in the fourth quarter.
— CNBC’s Tanaya Machel, Jesse Pound, Samantha Subin and Michelle Fox Theobald contributed reporting