Amazon delivery packages in front of the door.
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Check out the companies that are trending in intraday trading.
alphabet — Google’s parent company gained 4.4% after launching its large-scale language model, Bard AI, in Brazil and the European Union.
Cirrus Logic — The company fell more than 3% in intraday trading after it announced plans to cut its workforce by 5% in its 8K filings.
Nvidia — Stocks in the semiconductor and artificial intelligence powerhouse rose 2.2%. Nvidia has invested $50 million in Recursion to help advance AI-based drug discovery, the company announced Wednesday.
disney — Shares of the media giant rose less than 1% after the company announced a two-year extension to CEO Bob Iger’s contract through 2026. The news prompted Bank of America to reassess its Buy rating on Disney.
Calvana — Shares fell 7% after JP Morgan downgraded the stock from neutral to underweight after saying valuations of used-car dealers were “significantly deviating from fundamentals.” Carvana has surged about 700% this year. A $10 price target for the company on Wall Street suggests a 74% drop from Wednesday’s closing price.
SoFi — The stock fell 1.4% after Morgan Stanley downgraded the financial technology stock to underweight. Morgan Stanley said SoFi should be measured like banks and fintech companies.
via sat — Biasat’s shares plunged 29% in the worst day ever after the company revealed a malfunction in a recently launched communications satellite. The company said late Wednesday that an “unexpected event” occurred during reflector deployment that could affect the performance of the Viasat-3 Americas satellite.
shopify — Online purchase processors increased 5.5% in midday trading, building on a significant gain from the previous trade following the CEO’s departure. Tobi Lutke made the announcement in a video on Twitter. We plan to bring AI assistant tools to our platform for entrepreneurs.
Amazon — The e-commerce giant’s shares surged 2% after the company announced that Prime Day was the “largest ever” online sales of $12.7 billion.
progressive — The insurer’s shares fell about 11% after Progressive reported its June and second-quarter results. The company turned from a loss to a profit year-over-year, but its combined ratio was above 100 for both the quarter and the month, meaning most of its earnings came from investment income rather than underwriting activity. there is Additionally, the company’s net premiums written for the quarter were $14.72 billion, below the $15.04 billion forecast, according to Street Account.
— CNBC’s Samantha Soobin, Yun Lee, Jessie Pound, Michelle Fox and Alex Harring contributed coverage.