TSLA, TNDM, GEV, HAS and more
Check out the companies making the biggest moves midday: Diabetes tech stocks — The Centers for Medicare & Medicaid Services is proposing a rule change that could change the reimbursement rates for continuous glucose monitors and insulin pumps. The news sent shares of diabetes tech stocks lower. Tandem Diabetes Care and Beta Bionics tumbled 4% and 6%, respectively, while Dexcom shares shed nearly 4%. Insulet shares were also down 4%. Progress Software — The business application software maker tumbled 11% after reporting mixed second-quarter results. Revenue came in at $237.4 million, shy of the $237.5 million consensus estimate, per FactSet. Its adjusted earnings were $1.40 per share, above the $1.30 per share expected from analysts. GE Vernova — The energy equipment maker’s stock fell 7% on the heels of a report that the company was considering a potential sale of Proficy, its industrial software business. GE Vernova is working with financial advisors and reaching out to publicly traded companies and private equity firms, Bloomberg reported , citing people familiar with the matter. Tesla — The electric vehicle maker lost 5% after President Donald Trump suggested that the Department of Government Efficiency look at subsidies for Tesla CEO Elon Musk ‘s companies for potential cost-cutting measures. Trump’s comments came after Musk again criticized the president’s tax-and-spending bill . AeroVironment — Shares dropped nearly 8% after the defense contractor announced proposed offerings of $750 million in common stock and $600 million in convertible senior notes due 2030. Hasbro — The toymaker added 5% following an upgrade to buy from neutral at Goldman Sachs. The bank said new sets from Magic: The Gathering could help boost Hasbro’s sales. Kontoor Brands — Shares jumped 7% after Goldman Sachs added the apparel company to its conviction list. Goldman said Kontoor’s acquisition of Helly Hansen should boost the Wrangler parent’s portfolio. Hyatt Hotels — The stock gained almost 5% after Raymond James upgraded the hotel chain to a strong buy from market perform. As a catalyst for the upgrade, the bank pointed to Hyatt’s Monday announcement that it had entered an agreement to sell the entirety of its Playa-owned real estate , removing a “significant overhang.” Wynn Resorts , Las Vegas Sands — Casino stocks rallied after Macau reported strong gaming demand, with gross gaming revenues jumping 19% on a year-over-year basis to 21.06 billion patacas. Following the release of the data, Stifel analyst Steven M. Wieczynski said: “We continue to believe Macau-centric stocks present investors with an interesting way to play the China recovery story that should eventually play out. While the exact recovery timeline around Macau remains an unknown (for several reasons), we continue to believe in the long-term resiliency of the market and believe it’s a matter of when, not if, the market returns to normal/accelerated levels.” Shares of Wynn Resorts and Las Vegas Sands both rose 8%. Sweetgreen — Shares slid 3% after TD Cowen downgraded Sweetgreen to hold from buy. The firm said it likes Sweetgreen’s long-term prospects but said there are risks to the salad chain this year and next given rising competition in urban areas. Joby Aviation — Shares of the electric aviation company dropped 8%, giving back most of Monday’s advance. The stock rallied more than 11% in the previous session after the company delivered its first flying taxi to the United Arab Emirates ahead of a planned 2026 service launch. Bloomin’ Brands — The parent company of Outback Steakhouse and Carrabba’s Italian Grill rallied 16%. Bloomin’ Brands was coming off a six-day losing streak. Circle Internet Group — The stablecoin issuer added nearly 1% after submitting a bank charter application to the Office of the Comptroller of the Currency. If the bank charter is granted, Circle plans to establish the First National Digital Currency Bank and offer blockchain-related custody services. — CNBC’s Sarah Min, Michelle Fox, Christina Cheddar-Berk and Alex Harring contributed reporting.
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