Check out the companies making headlines in midday trading. GE Vernova – Shares of energy company GE Vernova, which was spun off from General Electric last week, rose 5.4% after an upgrade to overweight from neutral from JPMorgan. Investors should buy the dip in GE Vernova, the company said. Shares have fallen since the split largely due to technical selling and outflow and are now trading at a discount, the company said. Tesla — Shares of the struggling electric automaker rose 4% after CEO Elon Musk said late Friday that Tesla would unveil the design of its long-awaited robot on Aug. 8. Taiwan Semiconductor Manufacturing — Global Chips rose nearly 2% on news that its Arizona subsidiary will get up to $6.6 billion from the Biden administration to support U.S. semiconductor manufacturing as part of the Chips and Science Act. Eaton – Stock fell 1.9% after Wolf downgraded the electric company to underperform, citing valuation. Eaton, a beneficiary of the AI data center boom, has outperformed significantly this year. Ulta Beauty – Shares jumped 2.5% after Loop Capital upgraded the cosmetics stock to buy from hold, saying the company's performance should improve over the last three quarters of this year. Loeb said stocks may be on track to rebound after their worst decline since 2020 last week. Take-Two Interactive Software – Shares rose 2% after Citi upgraded the video game company to a buy rating and raised its price target, citing an attractive balance between risk and reward. UiPath – Software stock rose more than 2% during midday trading. The move has been fueled by KeyBanc's upgrade to overweight, with the company saying “changes in market and leadership over the past two years are beginning to bear fruit.” SoFi Technologies – Shares rose 2.8% after Citi resumed coverage of the online personal finance company with a buy rating. Citi cited the company's moves to diversify its business and its “ability to continue attracting deposits” as reasons for the bullish stance. Quickly — shares rose 7.8% on the heels of an upgrade to overweight from Piper Sandler, which said the cloud company's strong valuation and stable fundamentals represent an attractive risk/reward skew. Sociedad Quimica y Minera – US shares of the Latin American lithium producer rose 5.8% on the back of Jefferies' upgrade to buy from neutral. Jefferies said the stock offers an attractive performance in the commodities space. – CNBC's Alex Haring, Brian Evans, Samantha Subin, Yun Li and Lisa Kailay Han contributed reporting.
