By Check out the companies making headlines in midday trading. Quantum stocks — Quantum computing stocks dropped after Meta Platforms CEO Mark Zuckerberg became the latest high-profile executive to ease expectations for the technology. Rigetti Computing dropped 27%, while D-Wave Quantum shed 32%. The Defiance Quantum & AI ETF lost 2.5%. Nvidia , chip stocks — Popular semiconductor stocks declined after the Biden administration revealed new AI chip export caps. Nvidia lost more than 2%, while the VanEck Semiconductor ETF dropped 1.4%. Micron Technology shed nearly 5%. Moderna — Shares shed more than 20% after the vaccine maker cut its 2025 sales guidance by about $1 billion to range between $1.5 billion and $2.5 billion. The company anticipates the majority of its revenue will come in the second half of the year. Crypto stocks — Stocks tied to cryptocurrencies fell as bitcoin slumped more than 3% and briefly dropped below the $90,000 mark. Coinbase fell nearly 5%, while Mara Holdings slipped nearly 7% and MicroStrategy fell 4%. Pinterest —Shares of the visual sharing platform fell 4% on the heels of Jefferies’ downgrade to hold. The bank described Pinterest’s growth as “underwhelming” and pulled down its forecasts for revenue and EBITDA in the 2025 fiscal year. Edison International — Shares dropped 13% as wildfires continued to ripple through Los Angeles. Officials are investigating whether infrastructure sites from its Southern California Edison subsidiary ignited a brush fire. E.l.f. Beauty — The cosmetics producer popped 4% on the back of Morgan Stanley’s upgrade to overweight from equal weight. The bank said e.l.f.’s valuation is more enticing after its pullback in the second half of 2024. Howard Hughes Holdings — The real estate developer’s shares jumped 9% after Bill Ackman proposed a merger deal that offers current holders $85 a share. Ackman proposed forming a new subsidiary of Pershing, which currently owns about 38% of Howard Hughes, that would merge with the real estate developer based in The Woodlands, Texas. Managed care stocks — Managed care names rose on Monday, following the U.S. government’s Friday proposal to increase its 2026 reimbursement rates for Medicare Advantage plans by an average total of 4.3%. Humana gained 8%, followed by a 6% rise in CVS Health and 4% gain in UnitedHealth . U.S. Steel — Shares popped 8% after CNBC reported that Cleveland Cliffs and Nucor are partnering for a potential takeover big after its deal after the White House blocked its deal to be acquired by Japan’s Nippon Steel. Both stocks rose about 4% each.’ Megacap technology — Megacap technology stocks dropped as U.S. Treasury yields pushed higher. Nvidia lost 2%, along with Apple and Meta Platforms . Microsoft and Alphabet fell about 1%. Intra-Cellular Therapies — The stock jumped 34% following the announcement that Johnson & Johnson will buy the drugmaker for $132 per share. That suggests a 39% premium to Friday’s closing price and values Intra-Cellular Therapies at $14.6 billion. Shares of Johnson & Johnson were flat. Abercrombie & Fitch – The stock plunged about 18% after the clothing retailer’s updated fourth-quarter forecast disappointed investors. The company now anticipates net sales for the period to grow between 7% and 8%, up from its prior guidance of growth between 5% and 7%. With those holiday expectations being lower than the numbers the company posted for the prior-year period, that could signal a slowdown in growth. Macy’s — The retail stock fell more than 7% after the company said it expected net sales for the fiscal fourth quarter to be near the low end of its previous guidance range. Macy’s said its comparable sales were “roughly flat” quarter to date, including a drag from locations that aren’t part of the company’s future plans. — CNBC’s Yun Li, Alex Harring, Sean Conlon, Lisa Han, Michelle Fox and Jesse Pound 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
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