Stocks: NVDA, BA, SNAP, TSN and More

If you’re looking to stay on top of the latest stock market trends, we’ve got you covered. Here are some of the top companies making headlines in midday trading that you should keep an eye on.

Nvidia, the chipmaker, is on the rise, climbing 4% and reaching an all-time high after Goldman Sachs increased its price target to $800 per share from $625. It’s definitely a company to watch as it continues to make waves in the market.

Catalent and Novo Nordisk, the contract drug manufacturer, are also making moves, climbing about 10% due to an agreement with Novo Holdings to get taken over. The all-cash deal offers $63.50 per share and is slated to close in late 2024. Meanwhile, Novo Nordisk stock added more than 3% as a result of this development.

On the flip side, McDonald’s shares fell 4% after reporting a revenue miss in the prior quarter. The fast-food chain posted adjusted earnings of $2.95 per share on $6.41 billion in revenue, which was below analyst expectations. The company cited the Middle East conflict as a contributing factor to the fall in revenue.

In social media news, Snap saw a decline of over 3% after announcing plans to lay off 10% of its workforce, affecting about 500 employees. It’s an unfortunate turn for the company, but one that may lead to new developments in the future.

Eli Lilly, the pharmaceutical company, gained nearly 5% ahead of quarterly results due Tuesday. Analysts are expecting to see strong performance from the company, especially in light of a reported shortage of its antidiabetic treatment, Mounjaro, indicating high demand for the drug. Plus, its expected updates on the launch of its obesity treatment, Zepbound, could further impact their stock performance.

Boeing, the aerospace giant, experienced a 2% dip after announcing a new quality issue on some undelivered 737 Max planes, potentially delaying the delivery of about 50 of the vehicles.

On a positive note, Tyson Foods, the food processor, rose 2% after reporting strong financial results for its most recent quarter, surpassing analyst expectations.

Caterpillar, the heavy machinery maker, saw a nearly 2% gain and hit a 52-week high after improving operating profit margins for the fourth quarter. CEO Jim Umpleby called 2023 “the best year in our 98-year history,” which is certainly an encouraging sign for the company.

Estée Lauder, the cosmetics company, climbed more than 11% after exceeding analysts’ expectations in the fiscal second quarter, which is great news for their investors.

While there are some ups and downs in the market, it’s clear that these companies are all making waves in their respective industries. So, keep an eye on them as they continue to impact the stock market. With this information at your fingertips, you’ll be well-equipped to make informed decisions about your investments.

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