Stocks making the biggest moves midday: MS, COIN, TSM, LLY
Here are some of the names making big moves in midday trading. Eli Lilly — Shares of the weight loss drugmaker fell nearly 4% after Reuters reported that a Food and Drug Administration decision on its obesity pill would be delayed until April 10. The drug had been granted an expedited review under a Trump administration program. No reason for the delay was cited by the news service. Lilly previously said it expected the FDA to approve the drug in the second quarter. The report said reviews of drugs from Disc Medicine and Sanofi were also delayed to review their safety and efficacy. Disc shares tumbled nearly 7%, while Sanofi fell more than 1%. Managed care companies — Health insurance companies rose after President Donald Trump called on Congress to move forward with his health-care framework . Humana advanced about 4%, while Centene gained 2.6%. Molina Healthcare added almost 2%, and UnitedHealth ticked up just shy of 1%. Boston Scientific , Penumbra — Boston Scientific announced it has reached an agreement to buy medtech company Penumbra in a $14.5 billion cash-and-stock deal. Penumbra shares jumped 12%, and Boston Scientific lost more than 4%. Coinbase — The trading platform slid 3% after Coinbase pulled back its support from a U.S. Senate crypto market structure bill. CEO Brian Armstrong said in a social media post on X late Wednesday that “Coinbase unfortunately can’t support the bill as written.” He pointed to a series of issues, including “a defacto ban on tokenized equities” and amendments that would “kill rewards on stablecoins.” Taiwan Semiconductor Manufacturing — The chipmaker climbed more than 6% after it posted another record quarter . The company saw a 35% increase in fourth-quarter profit, beating estimates amid demand for its artificial intelligence chips. ASML Holding — Shares of the chip-equipment manufacturer jumped more than 6% after customer Taiwan Semiconductor Manufacturing announced larger-than-expected capital spending plans. Spotify — Shares slid more than 3%, reversing earlier gains. On Thursday morning, the audio streaming giant said it would raise its subscription price in the U.S. to $12.99 per month from $11.99. BlackRock — The world’s largest asset manager reported earnings and revenue that topped expectations, sending the stock around 5% higher. Adjusted earnings came in at $13.16 per share, versus the $12.21 a share expected from analysts polled by LSEG. Revenue was $7.01 billion, compared to the $6.69 billion consensus estimate. Morgan Stanley — Shares were up almost 6% after the bank reported fourth-quarter earnings of $2.68 per share, beating the $2.44 analysts polled by LSEG had expected. Morgan Stanley’s $17.89 billion revenue also exceeded the expected $17.77 billion. Goldman Sachs — The bank rose advanced 4% after reporting its fourth-quarter results . Goldman Sachs posted earnings of $14.01 per share on revenue of $13.45 billion. These numbers were not comparable with analysts’ estimates of $14.01 per share in earnings and $13.79 billion in revenue. Dell Technologies —The PC and server company gained almost 3% following an upgrade at Barclays to overweight from equal weight. The firm cited the strength of Dell’s AI server orders, stability of its AI operating markets and expanding opportunities enterprise server and storage for the call. Nokia — The telecom equipment maker was upgraded to overweigh t by Morgan Stanley, which cited AI-driven network demand. Shares popped more than 5%. Memory chip stocks — Taiwan Semiconductor’s earnings beat fueled a rally in memory chip stocks. Sandisk jumped 8%, and Western Digital gained more than 6%. Micron Technology advanced more than 2%, and Seagate Technology climbed more than 4%. DraftKings — The sports gambling platform climbed 4% on the back of an upgrade at Wells Fargo to overweight from equal weight. The bank expects a strong fourth-quarter earnings report and believes DraftKings could see its margins grow due to its foray into production markets. — CNBC’s Christina Cheddar Berk, Fred Imbert, Lisa Han and Nick Wells contributed reporting.
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