Check out the companies making headlines in midday trading. Nvidia â Shares of the chipmaker added 0.5% in midday trading, after gyrating earlier in the session. Nvidia beat on top and bottom lines for the third quarter, posting adjusted earnings of 81 cents per share on revenue of $35.08 billion. Analysts polled by LSEG had called for earnings of 75 cents per share on $33.16 billion in revenue. Nvidia also gave a better-than-expected forecast for the current quarter. Baidu â U.S. shares of the Chinese search engine fell 5.9% after Baidu’s third-quarter revenue declined by 3% compared to the year-ago period . Still, the company posted a 12% increase in its non-online marketing revenue, fueled mostly by growth in its artificial intelligence cloud business. Alphabet â Shares declined 4.7% on news that the Department of Justice is pushing a federal judge to force Google divest its Chrome internet browser in order to create a more level playing field for competitors in the search industry. That follows a ruling in August that Google has a monopoly in the search market. Snowflake â The data analytics software maker saw shares skyrocket roughly 32.7%, after the company’s better-than-expected third-quarter results . The stock is heading for its best day ever. Snowflake also called for $3.43 billion in fiscal 2025 product revenue, implying 29% growth. CEO Sridhar Ramaswamy said Snowflake is focusing more on saving money. Merus â Shares of the cancer therapeutics company gained 3.3%. Goldman Sachs initiated coverage of Merus with a buy rating, saying it sees big gains ahead driven by the company’s cancer treatment. Netflix â Shares rose about 1.5% on the heels of Bank of America reiterating its buy rating on the stock and upping its price target to $1,000. The bank cited live events, as well as Netflix’s in-house ad tech platform, as catalysts for growth. Crypto-related stocks â Stocks tied to cryptocurrencies earlier rose after the price of bitcoin crossed $98,000 for the first time , but they fluctuated after Galaxy Digital CEO Michael Novogratz warned that a pullback in bitcoin will come eventually. MicroStrategy was down more than 16%, while Coinbase dipped 7.7%. Miner Mara Holdings gained roughly 6.8%, while trading platform Robinhood dipped about 2.7%. BJ’s Wholesale Club â Shares moved 8.3% higher after the warehouse club’s third-quarter adjusted earnings beat the Street’s estimates. BJ’s also boosted its full-year guidance. The company said it will increase its membership fee and announced plans to repurchase $1 billion shares. PDD Holdings â Shares of the e-commerce giant, which owns Temu, fell 10.6%. PDD missed profit and revenue estimates. â CNBC’s Sean Conlon, Yun Li and Michelle Fox contributed reporting.
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