Market Movements at Noon
Here’s a look at some notable stock movements during lunchtime today:
- Fermi: The energy and data center development company saw an 11% drop in its stock after reporting a third-quarter loss of 84 cents per share, totaling about $347 million in net loss. Fermi had gone public in September at $21 per share with an IPO led by UBS and others.
- eToro Group: The trading platform’s stock increased by 10% following an upgrade from Deutsche Bank, which changed the stock rating from hold to buy due to its solid fundamentals and appealing valuation.
- Maplebear: The parent company of Instacart got a boost as BMO upgraded its rating to above-market performance, highlighting its historically low valuation and Instacart’s strong position in grocery delivery, leading to a 6% stock price rise.
- GEMINI SPACE STATION: The cryptocurrency exchange founded by the Winklevoss brothers dropped almost 16%. Despite announcing a third-quarter adjusted EBITDA loss of $50.7 million—which surpassed the expected loss—it did report higher-than-anticipated revenue.
- Sea Ltd.: This Singapore-based internet platform’s stock fell around 6% after posting a third-quarter adjusted EBITDA of $186.1 million, which didn’t meet analysts’ expectations of $214.1 million.
- Nebius Group: The Dutch AI-focused cloud platform’s shares fell 5%, as its adjusted third-quarter EBITDA loss widened and revenues fell short of expectations. The company’s sales forecast for 2025 was also lower than anticipated.
- Nvidia: Shares of the chipmaker decreased by 3.4% after SoftBank revealed it had sold its entire stake in Nvidia for $5.83 billion earlier this month.
- Life360: The location-tracking app’s stock tumbled over 23% after its announcement of a $120 million acquisition of advertising company Nativo, despite strong third-quarter results and positive forward guidance.
- CoreWeave: The AI infrastructure company’s shares dropped 14% as its earnings forecast for the year disappointed investors, predicting revenue below analysts’ expectations.
- Paramount Skydance: Shares rose by 10% following earnings announcements, with plans for cost-cutting measures and upcoming increases in streaming service prices.
- XPeng: The U.S.-listed stock rose 4% amid growing excitement surrounding the company’s humanoid technology and plans to launch robotaxis next year.
- Beyond Meat: The plant-based food company experienced a 7% decline after providing disappointing guidance for the fourth quarter, anticipating revenue lower than analysts’ expectations.
- Rigetti Computing: Shares fell 8% as the quantum computing company reported third-quarter revenue that was less than what analysts anticipated.
- BigBear.ai: This IT service management company saw a 7% uptick in stock price due to revenue growth that exceeded analysts’ predictions.
- RealReal: The online marketplace increased its full-year earnings outlook, with third-quarter results beating expectations, pushing its stock up by 35%.
- Rocket Lab: The space company’s stock rose 3% after releasing its latest financial results, which showed a narrower loss than analysts expected.
