Stocks making the biggest moves midday: Apple, Goldman Sachs, Morgan Stanley, PayPal and more
Check out the companies making headlines in midday trading. Apple — Shares slid 1.8% after the company offered discounts on multiple products in China, a highly unusual move for the technology giant. Products on sale include its new iPhone 15 line. PayPal — Shares of the payment company slid 3.5% following a downgrade from Mizuho to neutral. The bank cited increasing competition, particularly from Apple Pay and Zelle, as a major factor placing downward pressure on the stock. Boeing — Shares of the aerospace giant slipped roughly 7% following a downgrade to equal weight from Wells Fargo, with the firm citing concerns over Boeing’s ongoing troubles with its 737 Max 9 model. Synopsys , Ansys — Semiconductor design and software firm Synopsys stock gained more than 3% while shares of Ansys fell about 5% after Synopsys said it would acquire Ansys in a roughly $35 billion cash and stock deal. Goldman Sachs — Shares of the Wall Street firm gained 1.2% after Goldman reported $11.32 billion in revenue for the fourth quarter, largely due to better-than-expected asset and wealth management growth. That exceeded the LSEG consensus estimate of $10.80 billion. The firm earned $5.48 per share. Morgan Stanley — Shares of the New York-based bank fell more than 3% despite its fourth-quarter revenue surpassing expectations , boosted by the strength in investment banking. Profit was hurt by two one-time regulatory charges, which led to a 30% decline in net income from a year ago. CEO Ted Pick also warned of geopolitical risks and the possibility the U.S. economy could weaken. Applied Digital — Stock in the datacenter company fell more than 22% after second-quarter results missed on the top and bottom line and the company lowered its forecast. Carrols Restaurant — Shares of Carrols Restaurant Group, the largest Burger King franchisee in the U.S., rose more than 13% after the company agreed to be bought out by Restaurant Brands International . Restaurant Brands, Burger King’s parent company, will pay about $1 billion in cash for the franchisee. Restaurant Brands’ shares dipped more than 3%. AMD — Shares of the chipmaker climbed about 8% in midday trading, as analysts have been upbeat about the potential for artificial intelligence to boost demand for semiconductors. AMD stock has seen strong volume with about 63 million shares already changing hands. Nvidia shares also rose nearly 3% and hit a fresh 52-week high intraday. — CNBC’s Samantha Subin, Alex Harring, Pia Singh, Yun Li and Lisa Kailai Han contributed reporting.
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