Stocks making the biggest moves midday: HSY, CC, FICO, RUN
Check out the companies making the biggest moves midday: Hershey — The candy company slid more than 3% following news that Wendy’s CEO Kirk Tanner will take the helm at Hershey , effective Aug. 18. He will replace Michele Buck, who has been with the company for the past two decades and has spent eight years as CEO. Chemours — The company rallied more than 9%, adding to its strong gains over the past month, after the Environmental Protection Agency withdrew new rules regarding the use of certain chemicals. Huntsman shares also gained 5.7%. Royal Gold — Shares dropped more than 5%, down for a second straight session. The stock fell more than 6% on Monday after the precious metal management company said it’s acquiring Sandstorm Gold and Horizon Copper. Royal Gold is buying Sandstorm in an all-stock transaction valued at about $3.5 billion. The all-cash acquisition of Horizon Copper is valued at $196 million. Fair Isaac Corp. — Shares plunged nearly 12% after Federal Housing Finance Agency director Bill Pulte said on social media platform X that Fannie Mae and Freddie Mac will allow lenders to use Vantage 4.0 Scores to assess credit risk. Vantage is a competitor to FICO scores, the industry standard to this point. SoFi Technologies — The stock jumped 4.6% and hit a 52-week high after the digital financial services company said it is expanding access to alternative investments by including new access to new private market funds. Moderna — The vaccine maker popped 11%, making it the best performer in the S & P 500. That gain put the stock on pace for its best day since March 5, when it rallied nearly 16%. To be sure, there was no clear catalyst for the stock move. Solar stocks — Solar stocks were under pressure on Tuesday morning after President Donald Trump issued an executive order calling for the roll back of green energy subsidies, including to “build upon and strengthen” some of the changes in the recent tax bill. Sunrun fell more than 12%, Enphase dropped 3.7% and First Solar slid 4.7.6%. Merit Medical Systems — The medical device maker surged more than 4% after naming Martha Aronson CEO effective October 3. MMSI sees preliminary Q2 revenue of $380 to $384 million, up 11% to 13% from the year-earlier period on a constant currency basis. Datadog — The cloud security stock fell 4% following a downgrade to sell from neutral at Guggenheim. Datadog is at risk of losing significant revenue from OpenAI if the artificial intelligence giant opts to build in-house solutions for some of its technology needs, Guggenheim said. JPMorgan Chase , Goldman Sachs , Bank of America — Shares of the three major banks fell following downgrades from HSBC. JPMorgan and Goldman Sachs slid 3.8% and 1.7%, respectively, after being lowered to reduce from hold. Bank of America dropped 3% after being downgraded to hold from buy. The ratings changes come ahead of the second-quarter earnings season for banks. Vertiv Holdings — The AI infrastructure stock rose 2.8% after an upgrade to buy from hold at Melius Research. The investment firm said “the race to spend on AI seems back on track,” which would benefit Vertiv. KeyCorp — The financial stock rose about 1% after UBS upgraded the regional bank to buy from neutral. The Wall Street firm said KeyCorp has superior capital arsenal, strong loan growth momentum and the potential for net interest income upside surprises. — CNBC’s Scott Schnipper, Darla Mercado, Michelle Fox and Sarah Min contributed reporting.
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