Check out the companies that are trending in intraday trading. Nvidia — The chipmaker rose 4% to a record high after Goldman Sachs raised its price target to $800 per share from $625. Catalent , Novo Nordisk — The contract drug maker rose about 10% on the back of an agreement to be acquired by Novo Holdings. The all-cash transaction is expected to close in late 2024 and offers an offer of $63.50 per share. Novo Nordisk shares rose more than 3%. McDonald’s — Shares fell 4% after the fast food chain reported a drop in revenue last quarter. McDonald’s posted adjusted earnings of $2.95 per share on sales of $6.41 billion. Analysts had expected earnings of $2.82 per share and revenue of $6.45 billion, according to LSEG (formerly Refinitiv). Management cited the Middle East conflict as the reason for the decline in sales. SNAP — The social media stock fell more than 3% after Snap announced Monday it would lay off 10% of its workforce, or about 500 people. Eli Lilly — The pharmaceutical company rose nearly 5% ahead of its quarterly results to be released on Tuesday. Analysts surveyed by FactSet expect the company to report fourth-quarter revenue of $8.9 billion and earnings per share of $2.30. Data on the U.S. Food and Drug Administration’s website also shows shortages of the company’s anti-diabetic drug Munjaro, indicating strong demand for the drug. The company plans to announce an update on the launch of its obesity drug Zepbound on Tuesday. Boeing — Shares of the aerospace giant plunge by nearly 2% after the company said new quality issues were discovered in some of its undelivered 737 Max planes, potentially delaying the delivery of about 50 planes. It fell. Tyson Foods — The food processor rose 2% after reporting strong results for its most recent quarter. The company posted adjusted earnings of 69 cents per share on revenue of $13.32 billion. Analysts had expected earnings of 41 cents per share and revenue of $13.27 billion, according to LSEG. Caterpillar — Shares rose nearly 2% to a 52-week high after the heavy equipment maker improved its fourth-quarter operating margin. CEO Jim Umpleby called 2023 “the best year in ME&T’s 98-year history, including record full-year sales and earnings, record-high adjusted earnings per share, and record ME&T free cash flow.” It was,” he said. Caterpillar reported adjusted earnings per share of $5.23 and revenue of $17.07 billion. Estée Lauder — The cosmetics company’s stock rose more than 11% after the company beat analysts’ expectations on second-quarter sales and bottom line profits, according to FactSet. ON Semiconductor — The semiconductor company rose nearly 9% after fourth-quarter results beat Wall Street expectations for both revenue and adjusted earnings per share, according to FactSet. Aviation Products and Chemicals — Shares fell 14% after the company missed Wall Street expectations on sales and bottom line profits in its fiscal first quarter. Air Products & Chemicals reported adjusted earnings of $2.82 per share on revenue of $3 billion, while analysts compiled by Street Account expected earnings of $3.00 per share and revenue of $3 billion. It was $3.2 billion. Zscaler — Cybersecurity stocks fell about 6%. Late Friday, the company announced the resignation of Chief Operating Officer Dali Razik, effective immediately. Reuters reported on Monday that the executive had joined cybersecurity startup Wiz as COO. —CNBC’s Tanaya Machel, Jesse Pound, Ha-Kyung Kim, Alex Harring, Michelle Fox, Sarah Min and Darla Mercado contributed reporting.
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