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Check out the companies making headlines in midday trading: Broadcom – shares added 5% after The Information revealed the semiconductor maker was helping Apple create an artificial intelligence chip. Apple shares were down less than 1%. C3.ai – The artificial intelligence software company fell 7.2% after being downgraded to underweight by JPMorgan. Analyst Pinjalim Bora cited a stretched valuation as the catalyst behind the shift, adding that he now expects the stock to underperform in 2025. Macy’s – Shares sank more than 4% after the department store chain cut its forecast for the fiscal year. Macy’s now expects adjusted earnings per share between $2.25 and $2.50, compared to its previous forecast of between $2.34 and $2.69. GE Vernova – Shares of the energy equipment maker rose more than 6% after announcing a dividend of 25 cents per share and an initial $6 billion share buyback. GE Vernova also raised its 2028 margin estimate to 14% from 10%. Dave & Buster’s Entertainment – The arcade and dining operator fell 15.1% after missing profit and revenue expectations and announcing the departure of CEO Chris Morris. Dave & Buster’s reported a third-quarter loss of 84 cents per share on revenue of $453 million. Analysts polled by LSEG had forecast a loss of 37 cents per share and revenue of $466 million. Duolingo – Shares fell 5.5% after Bank of America downgraded the language learning company from buy to neutral. The bank said Duolingo is already trading at “top valuation” and said it may be difficult for the company to beat consensus estimates for its next quarterly report. GameStop – Meme’s stock rose more than 9% after the video game retailer posted a surprise profit last quarter. GameStop posted a net profit of $17.4 million in the third quarter, compared to a net loss of $3.1 million in the same period last year. Patterson – The dental and animal health company jumped 34% on the back of news that Patterson Patient would be acquired by Square Capital. The healthcare investment firm will pay $31.35 per share, and the deal is expected to close in the fourth quarter of Patterson’s 2025 fiscal year. Stitch Fix – Shares surged 44% after the online personal styling company raised its second-quarter revenue forecast. The company also raised the upper end of its full-year revenue guidance and expects between $1.14 billion and $1.18 billion, compared to a previous estimate of between $1.11 billion and $1.16 billion. General Motors – The Detroit-based automaker fell 1.5% after ditching the Cruise robotaxi service, which it had previously spent more than $10 billion on. General Motors said it would not finance the development, citing an increasingly competitive market and capital allocation priorities as reasons for the decision. Bausch + Lomb – Shares fell 13% after Citi downgraded the contact lens supplier from buy to neutral. The bank cited increased competition as a reason for the downgrade. Wolverine World Wide – Shares gained 6% after Stifel upgraded the company that owns shoemaker brands Merrell and Saucony to buy from hold. The company said Wolverine World Wide’s earnings growth potential is compelling and next year is a “turnaround year” for the stock. JetBlue – The airline advanced nearly 5% after announcing plans to add first-class seats to non-Mint class planes starting in 2026. This is the latest initiative to attract JetBlue’s premium customers to return the fixed-term plan to profitability. Figs – The medical apparel maker soared 16% after The Wall Street Journal reported it had received a takeover bid from Story3 Capital Partners. The private equity firm valued the company at more than $1 billion and offered $6 each for the figs’ common stock it did not own, the Journal reported. Krispy Kreme – Shares fell 2% after the donut chain disclosed a cybersecurity breach that disrupted its operations, including online applications for U.S. Pharmacy benefit managers – Shares of CVS Health, UnitedHealth and Cigna fell about 5% after lawmakers filed. A Senate bill that would prohibit companies that own health insurance companies, or PBMs, from owning pharmaceutical businesses. The bill would force those companies to divest from their pharmaceutical businesses within three years. – CNBC’s Michelle Fox, Alex Harring, Hakyung Kim, Yun Li, Sarah Min and Pia Singh contributed reporting.
