Check out the companies making headlines in midday trading. Altice USA – The cable TV company fell more than 12% after Wells Fargo downgraded the stock to below equal weight. The bank is now questioning Altice's M&A prospects, analyst Stephen Cahall wrote. Tesla – The electric automaker lost nearly 2% after Reuters reported its long-promised plans for a lower-cost car amid competition from Chinese electric car makers. Investors were counting on the upstart car to drive its growth into a mass-market automaker. CEO Elon Musk responded to the report on the social media platform X, saying, “Reuters is lying (again).” Krispy Kreme – Shares jumped 6% after Piper Sandler upgraded the stock to overweight from neutral. The company cited the donut chain's partnership with McDonald's, announced last week, as improving the narrative. Enphase Energy – Solar stock lost 5% after Citi downgraded its rating to neutral from buy, citing the company's “limited liquidity” and noted that trends are “sequentially weaker in the U.S.” Citi also downgraded Plug Power, whose shares fell by less than 1%. . Cinemark – The movie theater chain rose 4.4% on the back of a double upgrade to overweight from underweight by Wells Fargo. The bank said Cinemark has seen increasing demand and there is a strong backdrop for the film industry. Snowflake – The cloud company added 2.5% after Rosenblatt upgraded the stock to buy from a neutral rating, citing strong customer interest. Ollie's Bargain Outlet – Shares rose 4.5% after Loop Capital upgraded the bargain retailer to buy from hold. The company cited its relatively cheap valuation compared to its peers and the potential to expand its store base. Agilent Technologies – Life sciences applications stock rose nearly 3% after Stifel upgraded it to buy from hold. Analyst Daniel Arias said good demand for the instruments and attractive valuation will make the stock more attractive to investors. Shockwave Medical – Shares rose 2% after Johnson & Johnson announced it would buy the medical device maker for $12.5 billion in an effort to bolster its portfolio of cardiovascular disease devices. J&J shares were little changed. McDonald's – Shares fell less than 1% after the fast food chain announced Thursday that it had signed a deal to buy all 225 restaurants of its franchises in Israel. The move came after months of declining sales in the Middle East following the pro-Palestinian boycott. CNBC's Hakyung Kim, Alex Haring, Samantha Sobin and Michelle Fox contributed reporting.
