Check out the companies making headlines in midday trading. Cleanspark – The crypto miner’s stock plunged more than 13%. Cleanspark released its mining update for August, which showed that it mined 478 bitcoins last month. That marks a drop from 494 in July and 659 in August last year . Vaxcyte – Shares were recently up about 36% and earlier hit a record high after the vaccine company reported positive results from the Phase 1/2 study for its 31-valent pneumococcal conjugate vaccine candidate. The drug is meant to prevent invasive pneumococcal disease in adults aged 50 and older. Leerink Partners said he results were “stunning” and expect the vaccine candidate’s profile is a “category killer.” Unity Software – Shares of the video game maker jumped about 6% after Morgan Stanley upgraded the stock to overweight from equal weight, saying shares of the company are now derisked and pointing to Unity’s position as “the clear game engine.” Boeing – The aircraft maker’s stock moved 8% lower following a downgrade at Wells Fargo to underweight from equal weight. The bank said it sees Boeing’s free cash flow per share peaking by 2027. Tuesday’s slide put Boeing on track for its biggest one-day loss since Oct. 26, 2022. Redfin – The real estate brokerage stock jumped about 5% after an upgrade to buy from neutral at B. Riley Securities. The investment firm said that Redfin’s internal improvements plus the likelihood of lower interest rates should help the company return to growth and improve margins in 2025. Semiconductor stocks – Shares of some of the biggest chipmakers fell during the first trading session of the month. KLA and Nvidia led the slide, with both falling around 7%. Micron Technology and Taiwan Semiconductor Manufacturing each fell about 6%, while Broadcom and Advanced Micro Devices were down about 5%. Super Micro Computer – Shares rose around 2% after CEO Charles Liang issued a letter to customers and partners in which he called the Hindenburg Research report “misleading.” He also said that the delayed filing with the Securities and Exchange Commission won’t have “any material changes in our fourth quarter or fiscal year 2024 financial results.” Last week, shares fell 19% on news of its filing delay and Hindenburg’s disclosed short position. Hindenburg claimed in its report that it identified “fresh evidence of accounting manipulation.” United States Steel – Shares fell more than 5% after Vice President Kamala Harris opposed the planned sale of U.S. Steel to Japan’s Nippon Steel at a Labor Day rally for union members in Pittsburgh. In her remarks, Harris said that U.S. Steel was “an historic American company and it is vital for our country to maintain strong American steel companies.” — CNBC’s Lisa Kailai Han, Pia Singh, Jesse Pound, Fred Imbert and Michelle Fox contributed reporting.
Source: www.cnbc.com