By Check out the companies making headlines in midday trading. Eli Lilly – The drugmaker’s shares tumbled more than 7% after the firm said demand for its weight loss and diabetes drugs would not meet its lofty expectations . Eli Lilly said it now expects full-year 2024 revenue of about $45 billion, lower than the $45.4 billion to $46 billion the company anticipated in October. Boeing – Shares fell more than 2% on the heels of the aerospace company’s airplane deliveries for 2024 coming in about a third fewer than the year prior at over 348, effectively widening the gap between it and rival Airbus. By contrast, Airbus reported 766 deliveries last year. Applied Digital – The digital infrastructure stock gained more than 6% following the announcement that Macquarie has agreed to invest up to $5 billion in Applied Digital’s artificial intelligence data centers. Per the agreement, Macquarie will take a 15% stake in Applied Digital’s high-performance computing (HPC) segment. Hesai – The Chinese automaker supplier popped 8% after Goldman Sachs upgraded the stock to a buy rating from neutral. Analyst Tina Hou said that shares currently look “attractive,” adding that the market appears to have underestimated the operating leverage from Hesai’s new product cycle. Signet Jewelers – Shares sank 26% after the parent company of Kay Jewelers and Zales lowered its guidance for the fourth-quarter . Holiday sales were weak as consumers gravitated to lower price points, Signet said. KB Home – The homebuilding stock added 3% following a fourth-quarter earnings beat. KB Home reported per-share earnings of $2.52, higher than the $2.45 analysts polled by LSEG had expected. The company’s $2 billion revenue also beat forecasts of $1.99 billion. H & E Equipment Services – The stock surged more than 105% after United Rentals announced it will acquire the company. United will pay $92 per share in cash, valuing H & E at around $4.8 billion. United Rentals also rose 3%. Instacart – The grocery delivery company rose more than 1% after BTIG upgraded shares to a buy rating , calling it a “secular growth category leader.” The firm pointed to strong order growth among the reasons for the upgrade. Celanese – The chemical manufacturer and supplier jumped 5% on the back of a rare Bank of America double upgrade to buy from underperform. The bank said Celanese has a favorable valuation and should see demand recover for most products. — CNBC’s Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han and Michelle Fox contributed reporting.
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- South Korea’s impeached President Yoon Suk Yeol arrested, local media reports
- Trump to create External Revenue Service for tariff collection
- Biden administration will announce it’s lifting state sponsor of terrorism designation for Cuba
- Biden administration finalizes crackdown on Chinese vehicles
- Eli Lilly LLY cuts 2024 revenue outlook on weight loss drugs
