Check out the companies making headlines in midday trading. BlackBerry – BlackBerry shares rose nearly 7% after the company announced a partnership with Advanced Micro Devices on robotics systems. Moderna – The vaccine maker gained 6%. Moderna's cancer drug, which it is working on with Merck, has shown promising results in an early-stage study in individuals with a specific form of neck and head cancer, Reuters reported. Boeing – The plane maker's stock fell nearly 2% after a New York Times report said regulators were investigating allegations from a whistleblower about defects in the company's 787 Dreamliner plane. Alphabet – Alphabet stock rose 1.1% as Wall Street braced for the Google Cloud Next keynote event. The company also unveiled new custom chipsets based on Arm. Tilray Brands – Shares fell nearly 21% after the cannabis company reported a larger-than-expected quarterly loss. Tilray posted a loss of 12 cents in the latest quarter. Analysts polled by FactSet expected a loss of 5 cents. The company also reported a loss in revenue. American Eagle Outfitters – The retail stock briefly added as much as 4.4% on the back of JPMorgan's upgrade to overweight from neutral. The bank cited American Eagle Outfitters' promotional initiatives and operational changes for this call. However, shares fell slightly in midday trading. Ally Financial – Shares rose 1.5% after an upgrade to buy from neutral at Bank of America. The bank said Ally Financial may see higher-than-expected earnings and believes Ally's potential leverage may be underestimated. ChargePoint – Shares fell 4.3% after Goldman Sachs downgraded the electric vehicle charging station operator's rating for sale from neutral, saying slowing growth in U.S. electric vehicle sales and increasing competition in electric vehicle charging could be headwinds to ChargePoint's revenues and demand for its services. . Molson Coors – Stock rose 1% after Goldman Sachs upgraded the brewing company to buy, saying Molson Coors could benefit as it demands more shelf space at retailers. Pfizer – Pfizer stock rose slightly after the company announced that its respiratory syncytial virus (RSV) vaccine showed promising results in protecting adults under 60. At its highest levels of the day, the stock was up 3.2%. Neogen Corp – Food safety stock fell 9% after the company reported a surprise loss of 1 cent per share. The company also trimmed its previous guidance, saying it now expects revenue to be between $920 million and $910 million for the full year. Norfolk Southern – Railroad stock rose 1%. Norfolk Southern announced it has reached a $600 million settlement related to its derailment in eastern Palestine. The company also reported preliminary first-quarter earnings of $2.49 per share in the first quarter, below StreetAccount's forecast of $2.60 per share. Nvidia – Shares fell 2%, putting the chipmaker on track for its fifth losing session in six sessions. It was not clear what drove this movement down. Prices for Netflix, another strong player in 2024, were also lower on the day. — CNBC's Michelle Fox, Sarah Min, Pia Singh and Yun Lee contributed reporting.
