Check out the companies making the biggest moves at noon: Lyft – Rideshare stocks have skyrocketed by 13%. Riders can use the Lyft app to praise Robotaxis from Waymo in Alphabet when the service starts next year. Walmart – The retail giant has added 2% following its price target lift from Bank of America. Analyst Robert Orms cited Walmart’s position as an emerging leader in artificial intelligence within the retail sector as a catalyst. American Express – The credit card giant scored 2.7% and performed best at Dow Jones Industrial Average. The move comes before the expected Federal Reserve cuts later that day. Visa and MasterCard were also traded high. Roivant Sciences – The drugmaker popped 11% after the announcement of positive phase 3 trial results for Brepocitinib drugs aimed at treating certain immune and inflammatory diseases. NVIDIA – Artificial Intelligence Chip Darling fell 3% after a Financial Times report cited three people with knowledge of the issue, saying that China’s internet regulator has banned the country’s largest tech company from purchasing Nvidia’s AI chips. Stocks in Chipmaker Advanced Micro devices also fell by more than 1% in sympathy, following the report. Alibaba – US stocks, a Chinese e-commerce giant, won 2.6% after Chinese state media reported that it had acquired China Unicom, its leading customer with artificial intelligence chips. Baidu – Chinese tech companies have skyrocketed 7.7%. The move comes just after Arete Research Services, which upgrades Baidu’s US deposit receipts to purchase from sale, citing a positive outlook on AI chips and cloud computing revenue. Cytoplasmic – Inventory has decreased by more than 1%. On Tuesday, Bioharmaceutical Company announced plans to offer the $650 million convertible senior notes scheduled for 2031. Work Days – The HR software provider’s shares rose 8% after activist investor Elliott Management revealed $2 billion in the company’s stock. Netflix – The streaming giant has bought it from Hold at Loop Capital, up 1% on the back of the upgrade. The company said its long-term margin assumptions are high as Netflix wins streaming wars with strong content and content generates more revenue. Zillow Group – The share price rose 4% after Bernstein upgraded from market performance to outperform. The company said it was “warmed up” to the basic narrative and cited the company’s recent earnings growth implementation as a factor. – Reported by CNBC’s Salamine, Sean Conlon, Lisa Han, Alex Hurling and Michelle Fox Theobaldo.
Noon stock making the biggest move: Lyft, WMT, Baba, Bidu
