Stocks making the biggest moves midday: MIR, FCX, KMX
Check out the companies making the biggest moves midday: Mirion Technologies — The radiation detection name fell more than 8% after it announced a common stock offering of $300 million. Mirion is also selling $250 million in convertible bonds. Worthington Steel — The metal processing company dropped 8% on mixed fiscal first-quarter results. While sales and operating income grew from the year-earlier period, production volume declined. Freeport-McMoRan — Shares of the mining company slid 5%, adding to Wednesday’s 17% drop. The stock has been under pressure this week after Freeport declared force majeure at its Grasberg mine in Indonesia. MP Materials — The rare earths mining stock jumped 10%. While a catalyst for the move was not clear, the move put MP up more than 190% for the year. Oracle — The database software company fell 5% as worries around the AI trade continue to drag the stock lower. Rothschild & Co Redburn initiated coverage of Oracle with a sell rating, saying the market is “materially” overestimating Oracle’s contracted cloud revenues. It sees a more than 40% drop ahead for the stock. Intel — Shares moved 6% higher following a Bloomberg report that Intel has approached Apple about investing in the chipmaker. Talks are in the early stages, the report said, citing sources. Transocean — The stock tumbled 12% after the offshore driller announced its plans to sell 125 million shares of the company at a price of $3.05, significantly lower than Wednesday’s close of $3.64. Opendoor Technologies — Trading firm Jane Street disclosed a 5.9% stake in the online real estate platform, sending shares 7% higher. The stock has surged more than 400% this year. Lithium Americas — The mining stock popped another 17%, putting it on pace to build on its massive 95.8% surge from the previous session. Lithium Americas ripped higher Wednesday as the Trump administration seeks to build an equity stake in the Canadian company. Jabil — The electronic manufacturing company slipped 6%, despite reporting an earnings and revenue beat for its fourth quarter. Jabil’s core earnings were $3.29 per share, versus the $2.92 FactSet consensus estimate. Revenue was $8.25 billion, coming in above the $7.95 billion expected from analysts. Stitch Fix — Shares tumbled 17%. The online styling company reported lower adjusted EBITDA for the fourth fiscal quarter compared with the same period a year ago. Stitch Fix also said its active client base shrunk nearly 8% year over year. UniQure — The biotech firm’s stock soared nearly 9% after a clinical trial found the company’s experimental gene therapy for Huntington’s slowed the progress of the neurodegenerative disease. CarMax — Shares plummeted 19% after the used car retailer reported disappointing quarterly results. CarMax posted earnings of 64 cents per share in the second quarter, far below the $1.04 earnings per share analysts polled by FactSet were anticipating. Revenue of $6.59 billion missed the $7.01 billion consensus estimate. — CNBC’s Sarah Min and Alex Harring contributed reporting.
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