Check out the companies that made headlines in midday trading: Quantum stocks — Meta Platforms After CEO Mark Zuckerberg becomes the latest high-profile executive to temper expectations for the technology, quantum Computing stocks fell. Righetti Computing fell 27% and DWave Quantum fell 32%. The Defiance Quantum ETF fell 2.5%. Nvidia, a chip stock — The popular semiconductor stock fell after the Biden administration unveiled new export caps on artificial intelligence chips. Nvidia fell more than 2%, and the VanEck Semiconductor ETF fell 1.4%. Micron Technology fell nearly 5%. Moderna — Shares fell more than 20% after the vaccine maker lowered its 2025 revenue outlook by about $1 billion to a range of $1.5 billion to $2.5 billion. The company expects the majority of its revenue to be generated in the second half of this year. Cryptocurrency Stocks — Stocks related to cryptocurrencies fell as Bitcoin fell more than 3% and at one point fell below the $90,000 milestone. Coinbase fell nearly 5%, Mara Holdings fell nearly 7% and MicroStrategy fell 4%. Pinterest — Shares of the visual sharing platform fell 4% after Jefferies was downgraded to Hold. The bank described Pinterest’s growth as “overwhelming” and lowered its fiscal 2025 revenue and EBITDA forecasts. Edison International — Shares fell 13% as wildfires continued to spread through Los Angeles. Authorities are investigating whether an infrastructure facility at an Edison subsidiary in Southern California started the wildfires. Elf Beauty — The cosmetics maker soared 4% after Morgan Stanley upgraded its stock from equal weight to overweight. Howard Hughes Holdings — The real estate developer’s stock rose 9% after Bill Ackman proposed a merger agreement that would offer current holders $85 per share. Mr. Ackman proposed creating a new subsidiary of Pershing, which currently owns about 38% of Howard Hughes, and merging it with the Woodlands, Texas-based real estate development company. Managed Care Stocks — Managed care stocks rose on Monday following the U.S. government’s Friday proposal to increase reimbursement rates for Medicare Advantage plans in 2026 by an average total of 4.3%. Humana rose 8%, followed by CVS Health with 6% and UnitedHealth with 4%. US Steel — Shares soared 8% after CNBC reported that Cleveland-Cliffs and Nucor are partnering on a takeover offer after the White House blocked a takeover deal by Japan’s Nippon Steel. Both stocks rose about 4% each. Megacap Technology — Megacap technology stocks fell as U.S. Treasury yields rose. Nvidia fell 2%, along with Apple and Meta Platforms. Microsoft and Alphabet fell about 1%. Intracellular Therapy — Johnson & Johnson’s stock price rose 34% after the company announced it would acquire the drug company for $132 per share. That’s a 39% premium to Friday’s closing price, suggesting intracellular therapy is worth $14.6 billion. Johnson & Johnson’s stock price was flat. Abercrombie & Fitch — Shares fell about 18% after the clothing retailer’s latest fourth-quarter forecasts disappointed investors. The company expects net sales to increase 7% to 8% in the current period, exceeding its previous guidance of 5% to 7% growth. These holiday forecasts are lower than the numbers the company reported for the same period last year, which could indicate slower growth. Macy’s — The retail stock fell more than 7% after the company said it expects fiscal fourth-quarter net sales to be near the lower end of its prior guidance range. Macy’s said its sales for the quarter so far have been “nearly flat,” including the impact of stores not in the company’s future plans. —CNBC’s Yun Lee, Alex Harring, Sean Conlon, Lisa Han, Michelle Fox and Jesse Pound contributed reporting.
Stocks with the biggest price movements at midday: NVDA, RGTI, MRNA
