EIX, EBAY, GETY and More

Headline: Companies Making Headlines in Midday Trading

Introduction:
Hey there, curious investor! Wondering what's up with the stock market today? Let's dive into the latest movements of some key companies that are making waves in midday trading.

eBay: Meta Testing eBay Listings on Facebook Marketplace

• eBay's shares soared nearly 10% to hit 52-week highs after announcing a collaboration with Meta. Meta is testing the use of eBay listings on Facebook Marketplace, redirecting buyers to eBay for transactions.

Edison International Faces Setback Amid Wildfires

• Edison International faced a 10.2% drop as wildfires in the Los Angeles area led to mass evacuations and infrastructure damage, marking its worst trading day since March 2020.

Getty Images' Merger Drama with Shutterstock

• Getty Images witnessed a steep 17.6% plunge after announcing a $3.7 billion merger with Shutterstock. Shutterstock also saw an 11.1% decline following the news, after a brief surge in the previous session.

SolarEdge Technologies Hit by Citi's Downgrade

• SolarEdge Technologies saw a 14.8% decline after Citi downgraded the stock to sell from neutral, citing ongoing high operating expenses despite restructuring efforts.

Quantum Computing Stocks Take a Hit

• Stocks linked to quantum computing plummeted after Nvidia CEO Jensen Huang stated that the technology is still decades away. Companies like Rigetti Computing, D-Wave Quantum, and Quantum Computing saw significant drops.

Instacart's Maplebear Enters S & P MidCap 400 Index

• Maplebear, the parent company of Instacart, experienced a 4% jump ahead of its inclusion in the S & P MidCap 400 index on Jan. 14, replacing Enovis.

AAR Corp Beats Earnings Expectations

• AAR Corp's shares surged over 8% following an earnings and revenue beat for its fiscal second quarter, exceeding analysts' expectations.

Palantir Technologies Faces Downward Trend

• Palantir Technologies' shares dipped 2.5% due to Morgan Stanley's underweight rating and Cathie Wood's share sell-off, resulting in a 15% decrease in stock value this week.

Arcadium Lithium Receives CFIUS Clearance for Rio Tinto Acquisition

• Arcadium Lithium's shares rose over 8% after receiving clearance for its acquisition by Rio Tinto, with the deal expected to close in mid-2025.

Boston Scientific's Acquisition of Bolt Medical

• Boston Scientific's stock climbed 4.3% following its announcement of acquiring Bolt Medical, with the deal set to be completed in the first half of the year.

AMD Receives Downgrade from HSBC

• Advanced Micro Devices' stock dropped 4.3% after HSBC downgraded it to reduce from buy, citing concerns about its AI roadmap competitiveness.

Cal-Maine Foods Reports Strong Quarterly Results

• Cal-Maine Foods' stock rose 1% following its latest quarterly results, with a significant increase in revenue from the same period last year.

Shell Cuts Q4 Production Outlook

• Shell's shares fell 1.8% after trimming its fourth-quarter LNG production outlook and predicting lower oil and gas trading results compared to the previous quarter.

Novo Nordisk Upgraded by UBS

• Novo Nordisk's shares surged nearly 3% after UBS upgraded it to a buy rating, citing growth potential in the pharmaceutical sector.

Accolade's Acquisition by Transcarent

• Accolade's stock skyrocketed 105% after announcing its acquisition by Transcarent for $7.03 per share in cash, with a total equity value of around $621 million.

That's a wrap on today's market movers! Stay tuned for more updates on the ever-changing world of stocks and investments.

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